A number of initiatives have been announced by the government that will help in improving the conditions of the common man
Ministry of Economic Affairs and the World Bank inked a $1.34 billion package for several social uplifting projects across Pakistan. The World Bank approved a part of the grant for the financing of social uplifting projects under the Ehsaas Program, the national poverty alleviation program, amid the COVID-19 pandemic. Minister for Economic Affairs, Makhdum Khusro Bakhtyar was also present at the occasion.
World Bank Country Director for Pakistan Najy Benhassine said that many families across the country are facing a tough time with no savings during the pandemic. The country directors said that the aid will help those people in dire need.
“Amidst the COVID-19 pandemic, millions of families across Pakistan face economic hardship, particularly those working in the informal sector, who have no savings or are not covered by existing social safety net programs,” Benhassine said. “This investment supports Ehsaas in developing an adaptive social protection system that is more efficient and offers a new model for crisis-response and increasing household resilience to future shocks.”
A look into the initiatives
The projects include a $128 million grant to support the government’s initiatives in social protection, disaster, and climate risk management, improving infrastructure for resilience, agriculture and food security, human capital development, and governance sectors.
$600 million loans was earmarked for the Crisis-Resilient Social Protection Programme (CRISP), which supports social development with a more adaptive social protection model to boost crisis-resilience among poor and vulnerable households in the country. Another $200 million will be spent on locust protection and food security.
KP Human Capital Investment Project will receive US$200 million for improving availability, utilization, and quality of primary healthcare services and elementary education services in four districts of the Province. These include Peshawar, Nowshera Haripur, and Swabi, and all host Afghan refugees. Sindh Resilience Project will also receive US$ 200 Million for flood mitigation and avoiding drought risks in certain areas of the province.
Balochistan Livelihood & Entrepreneurship and Balochistan Human Capital Investment Projects will receive US$86 million for creating job opportunities in the rural areas of the province. It will also help in improving the health and education sectors in the region. US$50.0 million will be utilized for the objective of improving organizational and institutional capacity for managing refugees and host communities. Pakistan still hosts around 2 million refugees, mostly from the Afghan- USSR war era.
A great opportunity
The loans will offer the government some much-needed financing for helping people in dire need. The money will be used to help those in need both in the short and long term. It is imperative that these funds are used properly and spent for the intended purposes. These actions can lead to a better and more secure society in the near future.