The World Bank has signed an agreement with Pakistan for a loan of $ 304 million (approximately PKR 48.67 billion) for the Punjab Resource Improvement and Digital Effects Program (Pride) in the Economic Affairs Division.
The program aims to increase the Punjab government's revenue and improve resource allocation, as well as public and institutional access to digital services in the province, the newspaper reported.
Pride intervention will address three key challenges, including managing financial risks, mobilizing revenue and managing expenditures through better use of information systems, officials said.
Noor Ahmad, Secretary, Economic Affairs Division, signed the agreement on behalf of the Government of Pakistan while a representative of the Government of Punjab signed the operational agreement.
World Bank Country Director Naja Banhasin signed the agreement on behalf of the World Bank.
Speaking on the occasion, Minister for Economic Affairs Makhdoom Khusro Bakhtiar reiterated the government's commitment to improve revenue management by boosting revenue at the local level and increasing expenditure on development projects for the people.
