Pakistan emerges as World Bank's largest borrower

Islamabad: Pakistan has secured its position as the leading borrower from the World Bank, according to a recent report.

In the year 2023, Pakistan obtained a substantial loan of $2.03 billion through the International Development Association (IDA) program.

The report further indicates that Pakistan also received vital aid amounting to $1.07 billion from the IDA, which was primarily directed towards assisting flood victims.

This financial support encompassed various sectors, including housing, agriculture, education, and healthcare, demonstrating a comprehensive effort to alleviate the impact of natural disasters.

A significant portion of the aid, amounting to one billion dollars, was allocated to bolster Pakistan's budget, serving as essential financial support to stabilize the nation's economic framework.

In addition to these financial transactions, the report highlights the launch of a $200 million program in Punjab aimed at addressing climate change challenges.

This initiative underscores Pakistan's commitment to combat environmental issues while promoting sustainable development.