ISLAMABAD (Dunya News) – Pakistan and the Islamic Development Bank (IsDB) on Tuesday signed three financing agreements worth $603 million to support major infrastructure, poverty alleviation and education projects across the country.
The agreements were signed following a meeting between Federal Minister for Economic Affairs Ahad Khan Cheema and IsDB Vice President Dr Rami Ahmed. The formal signing was carried out by Dr Rami Ahmed and Secretary of the Economic Affairs Division Muhammad Hameer Karim.
The signing ceremony was attended by Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Poverty Alleviation and Social Safety Syed Imran Ahmed Shah, and other senior officials.
Under the agreements, the Islamic Development Bank will provide $475 million in financial assistance for the M-6 Sukkur to Hyderabad Motorway project, a key segment of the proposed Peshawar to Karachi Motorway, aimed at improving national connectivity and trade routes.
Another agreement focuses on launching a poverty graduation programme for extremely poor and flood-affected households. The initiative aims to move families away from reliance on cash assistance by promoting sustainable livelihoods, economic self-reliance and long-term financial stability.
The programme will be implemented in 25 districts and is expected to benefit 160,866 households.
In the education sector, the IsDB will provide $10 million for a project in Azad Jammu and Kashmir to bring out-of-school children back into classrooms. The initiative aims to re-enrol approximately 60,000 children and provide training for 4,000 teachers.
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