WB approves $800m to improve Pakistan’s power sector

The World Bank's (WB) board of executive directors on Tuesday approved $800 million for financing two programmes in Pakistan.

According to a press release, the programmes include the Pakistan Programme for Affordable and Clean Energy (PACE) and the Second Securing Human Investments to Foster Transformation (SHIFT II).

WB Country Director for Pakistan Najy Benhassine said that the reforms underpinning the two programs can contribute to facilitating sustainable investments and generate welfare gains for those most in need.

According to the statement issued, the $400 million projects for clean energy focuses on measures to improve the financial viability of the power sector and support the country’s transition to low carbon energy.