Connect with us

Hi, what are you looking for?

Economy

The World Bank has authorized a financial commitment of $149.7 million for the implementation of two development projects in Pakistan

The funding for SBIP will enhance our capacity to withstand floods more effectively. In regards to technological advancements, DEEP is working on establishing secure digital authentication and data-sharing systems. The devastating floods of 2022 serve as a somber reminder, as acknowledged by the World Bank.

To bolster the Digital Economy Enhancement Project (DEEP) and Sindh Barrages Improvement Project (SBIP), the World Bank’s Board of Executive Directors has endorsed a financial aid of $149.7 million for Pakistan.

A $78 million investment in DEEP aims to enhance digital public services for citizens and businesses. Meanwhile, the second additional financing of $71.7 million for the Sindh Barrages Improvement Project focuses on improving flood resilience and ensuring better reliability, safety, and management of the provincial barrages, as stated on Friday.

In 2022, the devastating floods that struck Pakistan served as a poignant reminder of the significance of developing resilience against such catastrophes. This involves enhancing the robustness of barriers, like barrages, and their management, as stated by the bank’s Country Director for Pakistan, Najy Benhassine.

Additionally, fostering the expanding digital economy in Pakistan is crucial for both economic and social advancement. This will enhance connectivity and provide greater access to government and financial services for citizens, including entrepreneurs, particularly women.

DEEP aims to create advanced digital authentication and data-sharing systems in Pakistan. These platforms will enhance the nation’s ability to handle crises effectively and efficiently. They will also improve e-government services for citizens and businesses, facilitate regulatory reforms promoting private sector involvement, and bolster personal data protection and online security.

This project aims to enhance financial inclusion, particularly for women, by empowering them to effortlessly open bank accounts or apply for credit via a mobile app. Additionally, it helps overcome challenges like restricted mobility and insufficient digital knowledge.

The supplementary funding for the SBIP will enable the comprehensive finishing and operationalization of Guddu and Sukkur barrages renovation, as well as enhance the administration of three barrages in Sindh, namely Guddu, Sukkur, and Kotri.

Ensuring secure and efficient flood control measures to manage water flow in Sindh’s downstream areas is vital for enhancing the region’s ability to withstand climate challenges.

The extra funding will additionally enhance the provincial dam management team’s technical skills, encourage women’s involvement in emergency readiness, and facilitate widespread citizen involvement and collaboration among stakeholders.

Written By

Economy

Prime Minister Shehbaz Sharif received a message from his Qatari counterpart, highlighting potential avenues for strengthening bilateral ties. According to Qatari newswire QNA, “Prime...

Politics

PESHAWAR: Jamiat Ulema-e-Islam Fazl (JUI-F) Chief Maulana Fazlur Rehman has reiterated the rejection of “fake assemblies” as the politico-religious party prepares to escalate its...

Entertainment

Undeterred by the interruption, the "The Legend of Maula Jatt" actress resumed her discussion and even extended her support for a film showcasing the...

National

Relatives report that Anthony Shaukat traveled to Portugal for a research endeavor affiliated with Shaukat Khanum Hospital. In Lahore, a young Pakistani researcher tragically...