ISLAMABAD: The World Bank is mulling over the possibility of approving $500 million loan for the cash-starved energy sector only after it reviews the implementation of the agreed reforms, underscoring the credibility gap between the two sides, according to local media sources.
The issue of approval of $500 million Development Policy Credit, which was originally scheduled to be approved in June this year, reportedly.
It was discussed on Monday during a meeting between Finance Minister Ishaq Dar and visiting Managing Director of the Washington-based lender, Sri Mulyani Indrawati, sources reported.
During the meeting, Pakistani officials narrated the measures they have taken so far under a policy matrix agreed between the two sides for the approval of the loan, according to an official who attended the meeting. The Pakistani delegation also shared the energy sector plan with the WB authorities.
