KARACHI – World Bank has approved $149.7 million funding to support Pakistan to promote financial inclusion of people of South Asian nation.
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World Bank’s Board of Executive Directors approved financing package for two key projects in Pakistan. The first project is Digital Economy Enhancement Project (DEEP) and the second project is of Sindh Barrages Improvement Project (SBIP).
Digital Economy Enhancement Project DEEP aims to enhance public service delivery through digital platforms, improving access to services for citizens and businesses.
The project includes regulatory reforms, personal data protection, and online safety measures to create a more secure digital environment.
World Bank’s Country Director for Pakistan Najy Benhassine highlighted DEEP’s potential to drive economic and social development, particularly by expanding connectivity and access to services for citizens and entrepreneurs, including women.
DEEP also aims to promote financial inclusion, especially among women, by providing access to banking services and credit through smartphone applications. The project aims to empower marginalized communities and reduce the digital divide by addressing mobility and digital literacy challenges.
The second part of the financing is for Sindh Barrages Improvement Project (SBIP), which focuses on improving infrastructure resilience against floods in Sindh. This includes rehabilitating key barrages like Guddu and Sukkur to effectively manage floodwaters.
World Bank officials stressed significance of safe barrages in building climate resilience in Sindh. The $71million financing will also support capacity-building in barrage management units, promote women’s participation in emergency preparedness, and engage citizens and stakeholders in project activities.
