World Bank and Pakistan Sign $85 Million Home Financing Project
According to the latest news, Pakistan and World Bank signed an $85 Million contract to support the home financing project in the country. Officials of the World Bank and the Ministry of Foreign Affairs (MOFA) were present at the signing ceremony. According to the agreement, the provided amount will assist in stabilizing the home finance area in Pakistan and help to improve the economic growth.
Secretary of Ministry of Foreign Affairs Mian Asad Hayaud Din and World Bank Country Director Gailius J. Draugelis signed the financing agreement. Moreover, the representative from PMRC (Pakistan Mortgage Refinance Company) signed the Home Financing project. Federal Minister of Pakistan Sardar Ayaz Sadiq was also present at the ceremony and admired the contribution of the World Bank towards the betterment of Pakistan’s home financing sector.
Gailius J. Draugelis assured us that the World Bank will continue to assist Pakistan in the financial and technical sector so that the government can work on the economic stability and growth in Pakistan. After this financing agreement, the low-income people will be able to get loans on easy conditions for home construction. This will directly impact the capital market and brings improvements to it. Officials say that this agreement between Pakistan and World Bank will benefit the low and middle-income communities of Pakistan.
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