ISLAMABAD: The World Bank is eyeing to approve $500 million loan for energy sector of Pakistan, local media reported on Tuesday.
The Bank is mulling over the possibility of approving $500 million loan for the cash-starved energy sector only after it reviews the implementation of the agreed reforms.
The issue of approval of $500 million Development Policy Credit, which was originally scheduled to be approved in June this year, was discussed on Monday during a meeting between Finance Minister Ishaq Dar and visiting Managing Director of the Washington-based lender, Sri Mulyani Indrawati.
During the meeting, Pakistani officials recounted the measures they have taken so far under a policy matrix agreed between the two sides for the approval of the loan.
The Pakistani delegation also shared the energy sector plan with the WB authorities.
