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World Bank Authorizes $200m Loan To Promote Agricultural Growth In Pakistan

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World Bank Authorizes $200m Loan To Promote Agricultural Growth In Pakistan

(CTN News) – As a result of Pakistan’s faltering economy, the World Bank has approved $200 million to promote agricultural growth in Punjab.

The World Bank Board recently authorized $200 million in financing to help Pakistan implement climate-smart technologies to increase small farmers’ incomes, increase water efficiency, and strengthen their resilience to extreme weather events.

A press release from the World Bank states that Punjab’s agricultural sector produces 73% of all the food produced in Pakistan.

Through the Punjab Resilient and Inclusive Agriculture Transformation Project (PRIAT), small farmers will have better access to water.

Additionally, it will help farmers in Punjab use climate-smart agricultural techniques and technology to increase crop yields and conserve water.

PRIAT will assist farmers in implementing climate-smart technology

PRIAT will assist Punjab farmers in implementing cutting-edge, climate-smart technology in order to help the province achieve economies of scale in agriculture.

The World Bank’s Country Director for Pakistan, Najy Benhassine, stated that “in recent years Pakistan’s agriculture sector has suffered losses in crop yields and livestock, damage to irrigation infrastructure, as well as food shortages due to climate change, particularly severe droughts in the Punjab province,” as per the release.
The initiative enhances sustainability and resilience in the face of climate change and enlists the help of the private sector to increase the sector’s productivity, which is in line with the Punjab Agriculture Policy 2018.
This initiative would also benefit 190,000 small, family-run farms and 1.4 million acres of irrigated land in rural areas of the province.
Moreover, it will teach small- and medium-sized farmers, especially women, about water conservation and more environmentally friendly, climate-resilient agricultural methods. 74% of the women in the province rely on agriculture for their income.

World Bank approved funds for Pakistan’s primary health care

Furthermore, the World Bank allocated $258 million in June to strengthen Pakistan’s primary health care institutions and speed up the nation’s efforts to achieve universal health coverage.

Earlier today, the World Bank’s Board of Executive Directors approved $258 million for Pakistan’s National Health Support Program (NHSP), which aims to strengthen primary health care systems and accelerate progress towards universal health coverage.

Further, the World Bank said that the initiative focuses on enhancing the quality and equitable access to healthcare services, especially in areas that fall behind national and regional health indicators.
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