Soon after the approval, the two sides signed the loan agreements for quick disbursements.
Secretary of Ministry of Economic Affairs Noor Ahmed and the World Bank’s Acting Country Director Melinda Good signed the agreements on behalf of respective sides.
The ministry said the first loan pertains to the Second Securing Human Investments to Foster Transformation Development Policy Financing (SHIFT-II) Programme worth $400m. The programme financing is aimed at strengthening civil registration and vital statistics, health and education systems essential for human capital accumulation and recognising the contribution of women to economic productivity.
The programme seeks improvement to national safety nets to respond to shocks in a more efficient manner.