WB ap­proves $34.95m for Pak­istan wa­ter sec­tor up­lift

The Pak Banker - - FRONT PAGE -

The World Bank (WB) will pro­vide ad­di­tional fi­nanc­ing of US$ 34.95 mil­lion to Pak­istan for wa­ter sec­tor ca­pac­ity build­ing ad­vi­sory ser­vices pro­ject in or­der to im­prove the ef­fi­cien­cies of sec­tor.

In this re­gard fi­nanc­ing agree­ment was signed be­tween Eco­nomic Affairs Divi­sion (EAD) and World Bank here on Wed­nes­day. Sec­re­tary EAD, Tariq Ba­jwa and World Bank Coun­try Di­rec­tor Patchamuthu Il­lan­go­van signed the agree­ment on be­half of their re­spec­tive or­ga­ni­za­tions.

The agree­ment aim­ing to im­prove the man­age­ment, in­vest­ment plan­ning and en­hance ca­pac­ity to ad­dress basin level of In­dus wa­ter re­sources to ef­fi­cient use of wa­ter re­sources. Keep­ing in view the im­por­tance of wa­ter and en­ergy re­sources for the coun­try, govern­ment had re­quested the bank for the ad­di­tional fi­nanc­ing pro­ject of US$ 35 mil­lion.

The pro­ject would mainly com­pris­ing on the com­po­nents ca­pac­ity build­ing of and sup­port the fed­eral in­sti­tu­tion in wa­ter re­sources plan­ning and man­age­ment.

The other ob­jec­tives of the pro­ject was im­prove­ment in wa­ter re­sources man­age­ment and de­vel­op­ment, be­sides pro­ject man­age­ment and ad­di­tional stud­ies for im­prove­ment of the in­vest­ment plan­ning.

Speak­ing on the oc­ca­sion Sec­re­tary EAD, Tariq Ba­jwa thanked the World Bank for pro­vid­ing ad­di­tional fi­nanc­ing un­der its In­ter­na­tional De­vel­op­ment As­sis­tance (IDA) for wa­ter sec­tor ca­pac­ity de­vel­op­ment.

He said orig­i­nal credit in an amount of US$ 38 mil­lion was ap­proved by the Bank dur­ing the year 2008, which is clos­ing on Jan­uary 31, 2016. Out of the to­tal 20 stud- ies, 18 stud­ies and ac­tiv­i­ties have been com­pleted and the credit has con­trib­uted sub­stan­tially to im­prove the man­age­ment and plan­ning of wa­ter re­sources in the In­dus River Basin, he added.

He said that it had also helped to equip­ping fed­eral wa­ter man­age­ment in­sti­tu­tions with mod­ern tech­nolo­gies, ca­pac­ity build­ings of their staff adding that un­der the credit spe­cial at­ten­tion was also paid to ur­gent and vi­tal ac­tiv­i­ties.

Tariq Ba­jwa said that un­der the credit govern­ment had pre­pared de­tailed de­signs, ten­der doc­u­ments for the Tar­bela-V, Dasu and some other pri­or­i­ties re­lated to the re­cur­ring flood emer­gency. Speak­ing on the oc­ca­sion, WB Coun­try Di­rec­tor ex­pressed the re­solve of the Bank for its con­tin­ued fi­nan­cial and tech­ni­cal as­sis­tance for Pak­istan to en­hance and im­prove the wa­ter re­source ca­pac­ity build­ing and man­age­ment.

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