07-02-2010, 12:56 PM
The World Bank approved a $146-million-loan to improve infrastructure of bridges and water storage capacity in Pakistan, a private TV reported.
The World Bank spokesperson said the loan will be spent for upgrading of Jinnah Barrage and for reform projects which were aimed at improving the quality of water management. World Bank’s acting country director John Wall emphasized on the need of improving the agriculture sector in Pakistan. He said that Agriculture plays a vital role in the economy of the country. Pakistan will have to repay the loan in the next forty years. The markup on the interest is five percent.
The World Bank spokesperson said the loan will be spent for upgrading of Jinnah Barrage and for reform projects which were aimed at improving the quality of water management. World Bank’s acting country director John Wall emphasized on the need of improving the agriculture sector in Pakistan. He said that Agriculture plays a vital role in the economy of the country. Pakistan will have to repay the loan in the next forty years. The markup on the interest is five percent.