WB approves Rs61.4b million IDA soft loan for KP

ISLAMABAD: The World Bank has approved $400 million (Rs61.4 billion) IDA soft loan to support Pakistan in accelerating investments in education and health services in the Khyber Pakhtunkhwa (KP) province. According to the WB’s announcement made here on Friday, the World Bank’s Board of Executive Directors approved $400 million in financing from the International Development Association (IDA) to support the KP in education and health services. The KP Spending Effectively for Enhanced Development (SPEED) program will help the provincial government strengthen its management of public resources and fiscal planning to sustain human capital investments in education and healthcare services. By implementing critical reforms in budget allocation and expenditures, the provincial program will contribute to increased quality of schools and health centers and remove obstacles to reach ‘the last mile’ in the delivery of education and health services in Khyber Pakhtunkhwa.