World Bank approves $75m loan for rehabilitation of IDPs

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The World Bank approved on Thursday a $75 million loan for Pakistan, majority of which will be disbursed among internally displaced persons (IDPs) as a cash grant aimed at facilitating their return from the camps to their homes.

About 87 per cent of the $75 million loan or $62 million will be used to provide cash grant to around 120,000 or over one-third of the total families affected by the ongoing military offensive in tribal areas. Each family will receive Rs 49,000 cash grant in two phases.

The Washington-based lending agency has given the concessionary loan for a period of 25 years, including a grace period of 5 years.

Families to be benefitted from the WB’s ‘Fata Temporarily Displaced Persons Emergency Recovery Project’ are from five Fata agencies, North Waziristan, South Waziristan, Orakzai, Kurram and Khyber, according to a handout issued by the WB’s local office.