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WB okays $800m for green energy, inclusive economic growth programmes

Daily Times
June 30, 2021
The World Bank (WB) has approved $800 million financing for Programme for Affordable and Clean Energy (PACE) and the Second Securing Human Investments to Foster Transformation (SHIFT-II) programme.
World Bank Country Director for Pakistan, Najy Benhassine said that the reforms underpinning PACE and SHIFT can contribute to facilitating sustainable investments and generate welfare gains for those most in need, according to a statement issued on Tuesday.
The $400 million PACE focuses on measures to improve the financial viability of the power sector and support the country’s transition to low-carbon energy.
PACE prioritises actions needed to initiate critical power sector reforms focused on: reducing power generation costs; better targeting of subsidies and tariffs for consumers; and improving efficiencies in electricity distribution with the participation of the private sector. Additional medium-term reforms are under development, focu ....

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WB approves USD 800mn new loan to Pakistan

WB approves USD 800mn new loan to Pakistan
ANI
30 Jun 2021, 09:37 GMT+10
Washington DC [US], June 30 (ANI): The World Bank on Tuesday approved USD 800 million in financing for two programs in Pakistan the Pakistan Program for Affordable and Clean Energy and the Second Securing Human Investments to Foster Transformation.
A World Bank (WB) release said that the USD 400 million Pakistan Program for Affordable and Clean Energy (PACE) focuses on measures to improve the financial viability of the power sector and support the country s transition to low-carbon energy.
Power sector reforms are critical to resolving Pakistan s fiscal challenges, said Rikard Liden, World Bank Task Team Leader for the PACE program. Decarbonizing the energy mix will reduce the dependence on fossil fuel imports and vulnerability to price fluctuations because of movement in exchange rates. PACE prioritizes action on such reforms, which must be sustained to address circular debt and set th ....

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World Bank approves USD 800mn loans to Pakistan

World Bank approves USD 800mn loans to Pakistan
ANI |
Updated: Jun 30, 2021 05:44 IST
Washington DC [US], June 30 (ANI): The World Bank on Tuesday approved USD 800 million in financing for two programs in Pakistan the Pakistan Program for Affordable and Clean Energy and the Second Securing Human Investments to Foster Transformation.
A World Bank (WB) release said that the USD 400 million Pakistan Program for Affordable and Clean Energy (PACE) focuses on measures to improve the financial viability of the power sector and support the country s transition to low-carbon energy.
Power sector reforms are critical to resolving Pakistan s fiscal challenges, said Rikard Liden, World Bank Task Team Leader for the PACE program. Decarbonizing the energy mix will reduce the dependence on fossil fuel imports and vulnerability to price fluctuations because of movement in exchange rates. PACE prioritizes action on such reforms, which mu ....

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World Bank approves $800 million loans for two programmes in Pakistan

The World Bank on Tuesday approved USD 800 million in financing for two programs in Pakistan the Pakistan Program for Affordable and Clean Energy and the Second Securing Human Investments to Foster Transformation.
A World Bank (WB) release said that the USD 400 million Pakistan Program for Affordable and Clean Energy (PACE) focuses on measures to improve the financial viability of the power sector and support the country s transition to low-carbon energy.
Power sector reforms are critical to resolving Pakistan s fiscal challenges, said Rikard Liden, World Bank Task Team Leader for the PACE program. Decarbonizing the energy mix will reduce the dependence on fossil fuel imports and vulnerability to price fluctuations because of movement in exchange rates. PACE prioritizes action on such reforms, which must be sustained to address circular debt and set the power sector on a sustainable path. ....

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WB approves $800m for social, energy reforms - Newspaper

Soon after the approval, the two sides signed the loan agreements for quick disbursements.
Secretary of Ministry of Economic Affairs Noor Ahmed and the World Bank’s Acting Country Director Melinda Good signed the agreements on behalf of respective sides.
The ministry said the first loan pertains to the Second Securing Human Investments to Foster Transformation Development Policy Financing (SHIFT-II) Programme worth $400m. The programme financing is aimed at strengthening civil registration and vital statistics, health and education systems essential for human capital accumulation and recognising the contribution of women to economic productivity.
The programme seeks improvement to national safety nets to respond to shocks in a more efficient manner. ....

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