World Bank approves $300 million loan for Pakistan

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World Bank approves $300 million loan for Pakistan

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11 September,2009 10:03 am

The World Bank has approved $300 million loan for Pakistan. Two hundred million dollars will be allocated for Benazir Income Support Programme (BISP), while the remaining $100 million will be spent on promoting Higher Education in the country. This $300 million loan will be delivered to Pakistan on 5 percent interest rate which shall have to be returned within 35 years. The World Banks Board of Directors approved the loan in its meeting in Washington. Pakistan hopes to receive the package within 15 days after the approval.