Pending approvals for the revised PC-1 project for the 2,160 MW Phase 1 hydropower project and unresolved security concerns are delaying the signing of additional $1 billion in financing agreements with the World Bank. Business Registrar The Ministry of Economic Affairs has urged the Ministry of Water Resources to expedite the submission and approval of … Read more
The World Bank has approved additional financing of $450 million for the Sindh Flood Emergency Housing Reconstruction Project to support the reconstruction of resilient housing for people in Sindh province affected by the 2022 floods. According to a World Bank press release, the new support will build on the original $500 million project, approved in … Read more
Pakistan received external financing worth $944.2 million in November 2024, representing a 127.6% increase compared to October and a 127.0% increase from November last year. The funding consists of $937.66 million in loans and $6.54 million in grants, according to the Department of Economic Affairs’ latest report. Despite this increase, cumulative external financing during the … Read more
Auto financing in Pakistan fell to PKR 234.64 billion in November 2024, registering a decline of 0.53% month-on-month from PKR 235.88 billion recorded in October 2024, according to data released by the State Bank of Pakistan (SBP). On a yearly basis, the decline was more pronounced, with funding declining by 8.72% compared to PKR 257.05 … Read more
The World Bank has approved $240 million in financing for the Karachi Water and Sanitation Services Improvement Project II (KWSSIP-2) to provide safely managed water, sanitation and hygiene services in Karachi. “Safely managed water, sanitation and hygiene (WASH) services are the foundation of public health and quality of life and are key to addressing the … Read more
The first feature film exploring the underground punk scene and social activism in the Philippines is participating in the GAP Tokyo Funding Market, part of the TIFFCOM Market of the Tokyo International Film Festival. “Ria,” directed by award-winning short film director Arvin Belarmino, is about 25-year-old Ria, who lives in a dissolute society facing demolition … Read more
View of the World Bank building. – Reuters/File The World Bank report expects the GDP growth rate to reach 2.8% in Pakistan. Business confidence is likely to improve after the credit rating upgrade. Pakistan’s lack of trade openness is hurting exports, the report says. ISLAMABAD: In its report titled “Pakistan’s Development Modernization: Dynamics of Power … Read more