ISLAMABAD : World Bank (WB) and Asian Development Bank (ADB) has deferred the approval to further loan of one billion dollars to Pakistan due to delay in fulfillment of certain conditionalities and deadlock in talks with IMF.
According to sources WB will accord approval to 800 million dollars loan on June 28 2021 as compared to original loan project of 1.5 billion dollars.
Pakistan and WB had held talks on three loans of 500 million dollars. WB has deferred the approval of one loan under durable economy program. The volume of remaining two loans under security and human investment has been reduced from 500 million dollars to 400 million dollars.
The WB decided to curtail amount of the loan due no non meeting of certain conditions by Paikistan.
According to media reports ADB has deferred the approval of 300 million dollars energy sector reforms financial stability program for some time.
