Islamabad: The World Bank’s Board of Executive Directors has approved $535 million in financing to support two significant projects in Pakistan aimed at bolstering social protection systems and transforming the livestock and aquaculture sectors.
According to the report, the World Bank issued a statement confirming the approval of a $535 million loan for Pakistan. The World Bank stated in the announcement that the funding includes $400 million for the Crisis Resilient Social Protection (CRISP) Program, designed to strengthen Pakistan’s social protection infrastructure and enhance resilience among vulnerable households, which will be spent on mitigating the impacts of climate change in Pakistan, thereby improving the productivity of the agricultural sector.
The CRISP initiative will build on existing efforts to provide effective and rapid responses to future crises, focusing on improving the national cash transfer program’s efficiency and coverage, as well as enhancing Federal-Provincial coordination.
The additional financing will further assist families in becoming more resilient to climate and economic shocks and encourage provincial capacities to play a larger role in social assistance.
The second project, the Sindh Livestock and Aquaculture Sectors Transformation (LIVAQUA) Project, will receive $135 million to promote climate-smart and competitive production among small and medium-sized producers in Sindh’s livestock and aquaculture sectors. This initiative aims to improve sector policies, strategic frameworks, and evidence-based decision-making while enhancing the capacity of public and private providers to deliver essential services.
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