The World Bank’s Regional Vice President for South Asia, Martin Ricer, has said that the World Bank plans to provide $1.7 billion in aid to Pakistan.
The Vice President of the World Bank met the Federal Minister of Energy Khurram Dastgir in Islamabad.
Martin Ricer expressed deep regret over the devastating floods and said that the purpose of his visit was to know the facts on the ground. .
He said the World Bank’s assistance could be in the form of rehabilitation assistance, new emergency operations and long-term capacity building efforts, including strengthening social security programs.
Pakistan’s policy shift towards renewables is a step in the right direction, the World Bank Vice President said, adding that Pakistan has the largest energy portfolio of the World Bank.
On the sidelines of the meeting, the Energy Minister assured the World Bank that the current government is committed to reforming and solving problems in the energy sector as well as increasing revenues.