ISLAMABAD, Pakistan: The World Bank (WB) will provide additional financing of US$ 34.95 million to Pakistan for water sector capacity building advisory services project in order to improve the efficiencies of sector. In this regard financing agreement was signed between Economic Affairs Division (EAD) and World Bank here on Wednesday. Secretary EAD, Tariq Bajwa and World Bank Country Director Patchamuthu Illangovan signed the agreement on behalf of their respective organizations. The agreement aiming to improve the management, investment planning and enhance capacity to address basin level of Indus water resources to efficient use of water resources. Keeping in view the importance of water and energy resources for the country, government had requested the bank for the additional financing project of US$ 35 million. The project would mainly comprising on the components capacity building of and support the federal institution in water resources planning and management. The other objectives of the project was improvement in water resources management and development, besides project management and additional studies for improvement of the investment planning. Speaking on the occasion Secretary EAD, Tariq Bajwa thanked the World Bank for providing additional financing under its International Development Assistance (IDA) for water sector capacity development. He said original credit in an amount of US$ 38 million was approved by the Bank during the year 2008, which is closing on January 31, 2016. Out of the total 20 studies, 18 studies and activities have been completed and the credit has contributed substantially to improve the management and planning of water resources in the Indus River Basin, he added. He said that it had also helped to equipping federal water management institutions with modern technologies, capacity buildings of their staff adding that under the credit special attention was also paid to urgent and vital activities. Tariq Bajwa said that under the credit government had prepared detailed designs, tender documents for the Tarbela-V, Dasu and some other priorities related to the recurring flood emergency. Speaking on the occasion, WB Country Director expressed the resolve of the Bank for its continued financial and technical assistance for Pakistan to enhance and improve the water resource capacity building and management. Source: APP
ISLAMABAD Pakistan and World Bank, Wednesday, signed an agreement of $ 34.95 million as additional financing for Water Sector Capacity Building for services to improve management and investment planning of water resources in the Indus River Basin. World Bank approved the project in 2021 while it will close in 2008.