2 agreements inked with WB for financing projects in different sectors.

Islamabad, July 03, 2009 (Frontier Star) -- The Government of Pakistan signed two agreements with the World Bank amounting to US$ 134.68 million for financing projects in different sectors, namely: Third Partnership for Polio Eradication Project (US$ 74.68 million) & Social Safety Nets Technical Assistance Project (US$ 60 million) Friday in Economic Affairs Division (EAD), says a Press Release issued by the EAD. The overall objectives of these projects are to help the Government of Pakistan in enhancing the efficiency and productivity of sectors like Health & Social Welfare. The terms and conditions for the Education Sector Credits will remain as per the World Bank standard i.e. maturity period of the credit is 35 years having a grace period of 10 years. Government of Pakistan has to pay service charges @ 0.75% and commitment charges @ 0.5% per annum. The agreements were signed by Mr. Farrukh Qayyum, Secretary, EAD on behalf of the Government of Pakistan and Mr. Yusupha B. Crookes, Country Director on behalf of the World Bank. The projects details are: Third Partnership for Polio Eradication Project (US$ 74.68 million): The objective of the project is to assist the Recipient in its efforts under its Polio Eradication Initiative (PEI) to eradicate polio from its territory. The project consists of: Procurement, supply and use of OPV for the purpose of immunizing children under five (5) years of age under the Supplemental Immunization Activities (SIAs). Social Safety Nets Technical Assistance Project (US$ 60 million):* The objective of the project is to enhance the operation and management of a nationwide effective and transparent safety net system for the poor within the territory of the Recipient. The project consists of the following parts: Establishment a National Targeting System (US$ 34.6 million), Strengthening Safety Net Program Operations (US$ 12.9 million), Enhancing the Safety Net Program Management, Accountability and Evaluation (US$ 10.7 million), Developing the Social protection Policy and Strategy Monitoring (US$ 1.7 million)

(THROUGH ASIA PULSE)