The World Bank Board Approves Pakistan’s $350 million RISE-II Project

The Second Resilient Institutions for Sustainable Economy (RISE-II) Operation, which aims to improve fiscal management and foster competitiveness for sustained and inclusive economic growth, has received $350 million in funding from the World Bank Board of Executive Directors. 

Read More: 51% Less Foreign Loans in November 2023

Najy Benhassine, the World Bank’s Country Director for Pakistan, states that “Pakistan needs urgent fiscal and structural reforms to restore macroeconomic balance and lay the foundations for sustainable growth.”

RISE-II completes the first phase of business climate, energy, and tax reforms aimed at improving the targeting of expenditures, boosting investment and competition, and raising additional revenues.