The World Bank’s Board of Executive Directors has approved $535 million in financing for Pakistan to support two projects, a statement from the institution said Friday.
The additional financing for the Crisis Resilient Social Protection Programme aims to strengthen the country’s social protection system and build shock resilience among poor and vulnerable households.
At the same time, the Sindh Livestock and Aquaculture Sectors Transformation Project will promote climate-smart and competitive small and medium producers in the livestock and aquaculture sectors in Sindh.
“The catastrophic floods that hit Pakistan in 2022 were a tragic reminder of the importance to build resilience to such disasters, including by strengthening both social protection and sectors that support economic growth and recovery,” said Najy Benhassine, World Bank Country Director for Pakistan.
“It is also imperative to help the vulnerable absorb climate shocks through innovative climate-smart technology and contingency planning.”
The additional financing for CRISP ($400 million) will build on the programme’s ongoing efforts to equip Pakistan’s social protection system with the policy and delivery system foundations necessary for more effective and rapid responses to future crises.
The programme will focus on longer-term policy actions to further improve the national cash transfer program’s effectiveness, coverage and federal-provincial coordination.
