Government decides to redirect $40 million funds from World Bank projects to fight against coronavirus
Reallocations from foreign-funded projects are also being diverted towards this cause.
The government of Pakistan has redirected $40 million funds from World Bank projects to fight against coronavirus. Federal Minister for Economic Affairs Hammad Azhar said that the funds would be used to buy necessary equipment and take precautionary measures to contain the COVID-19 outbreak.
While sharing the breakdown of funds, Azhar said that Punjab would receive $7.5 million, $10 million would go to Sindh, $7 million to Khyber Pakhtunkhwa, $2 million to Balochistan and $13.5 million would be used by the federal government.
Previously, the minister informed that the government is finalizing a $600 million emergency package with multilateral for dealing with COVID-19 outbreak across the country.
“Economic Affairs Division (EAD) is finalizing an approx $600 million emergency package with multilateral for dealing with Covid-19 outbreak across the country. It includes reallocations and fresh financing. This will be in addition to local funding that is being made available”, he tweeted.
Following non utilised sums have been immediatly redirected from World Bank projects and are now cleared to be used by provinces and fed govt for Covid-19 equipment purchases and responses:
Punjab: $7.5 ml
Sindh: $10 ml
KPK: $7 ml
Balochistan: :$ 2 ml
Fed govt: $13.5 ml@eadgop
— Hammad Azhar (@Hammad_Azhar) March 20, 2020
Azhar further added that emergency funds from the Asian Development Bank (ADB) supported National Disaster Risk Management Fund (NDRMF) and were also being made available for the National Disaster Management Authority (NDMA). Reallocations from foreign-funded projects are also being diverted towards this cause.
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