The allocated funds will be directed towards improving educational infrastructure, enabling greater access to primary and pre-primary education for both boys and girls.
ISLAMABAD: The World Bank has granted approval for a substantial $150 million funding injection. The funds, earmarked specifically for enhancing education facilities in Punjab, are set to benefit a staggering 5 million children across the province.
According to a World Bank spokesperson, the initiative comes in response to the pressing need to address the educational deficit in Punjab, where an estimated 7 million children currently remain out of school. The allocated funds will be directed towards improving educational infrastructure, enabling greater access to primary and pre-primary education for both boys and girls.
The project’s scope extends beyond mere infrastructure enhancement; it encompasses the recovery of educational setbacks incurred during the COVID-19 pandemic. A significant portion of the funds will be allocated towards the training and support of approximately 165,000 teachers and 7,000 headmasters.
This landmark approval follows closely on the heels of another substantial financial commitment from the World Bank, which recently sanctioned a $1 billion loan for the Dasu Dam project. This additional influx of funds underscores the World Bank’s steadfast support for Pakistan’s endeavors towards sustainable and accessible infrastructure development.
Read More: World Bank approves $1 billion for Dasu Hydropower Project
The provision of these funds represents a significant milestone in Pakistan’s quest for environmentally friendly and affordable hydropower generation, marking the largest financing facility extended by the World Bank for any project within the country. This concessional financing package, comprising resources from the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD), heralds a new chapter in Pakistan’s journey towards socio-economic progress.
