Summary The amount will be spent on hydel, wind and solar energy projects and in financial sector
ISLAMABAD: (Dunya News) – World Bank will invest more than 1 billion US dollars in Pakistan during 2015 and the amount will be spent on hydel, wind and solar energy projects along with the financial sector, reported Dunya News.
World Bank’s subsidiary institution International Finance Corporation’s (IFC) Country Manager Nadeem Siddiqui has said that there are hundreds of thousands of Pakistanis who are facing energy shortage and have no banking facilities. He told that IFC has invested over 120 million dollars in Pakistan in collaboration with Chinese company 3 Gorges in the wind, hydel and solar energy projects. He said that these projects are estimated to provide electricity to over 10 million people.
Moreover, IFC has not only provided USD 150 million load to Habib Bank but has also invested 750 million USD in the same bank so that the bank is able to start small loan schemes in rural areas along with the small loans scheme for women.
