Islamabad:

The National Assembly’s Standing Committee on Economic Affairs was informed on Thursday that Pakistan was the first country to sign a 10-year framework with the World Bank in which the government identified five sectors to work.

The meeting discussed the plan to rebuild houses in the flooded areas and registration of NGOs in the country.

The Ministry of Economic Affairs informed the committee that 10,000 houses would be completed for flooded people by June 30. The ministry’s officials said the list of people affected and the investigation had been transparent with the help of the army and other agencies.

Committee member Akhtar Bibi expressed reservations that the list included people who were not affected by the floods. The officials said the list of 284,000 affected people was prepared for the construction of houses. The list was made with the greatest transparency after the study, they added.

The secretary of financial affairs told the committee that the previous framework with the World Bank ended in 2021, and now the Washington-based lender had been asked to make a framework for 10 years. “We have assessed the World Bank of five sectors where we want to work,” he said.

“Pakistan is the first country that the World Bank has made a 10-year country partnership framework. In fact, it’s a $ 40 billion program. IFC will also give $ 20 billion in 10 years, he said.” The entire loan will be given to Pakistan at 6% interest. “