Islamabad: The World Bank has approved $700 million in financing aimed at enhancing Pakistan's macroeconomic stability and improving service delivery in the country.

According to Anadolu Agency, the funding is part of the Public Resources for Inclusive Development-Multiphase Programmatic Approach (PRID-MPA), a national initiative designed to support both federal and provincial reforms. This program focuses on mobilizing domestic revenue and is set to receive a total financing package of up to $1.35 billion.

Out of the approved amount, $600 million is allocated for federal programs, while $100 million is specifically earmarked for initiatives within the Sindh province. The program aims to facilitate efficient and transparent use of resources to achieve tangible results for the populace.

Bolormaa Amgaabazar, the World Bank country director for Pakistan, emphasized the importance of mobilizing domestic resources to pave the way for inclusive and sustainable growth in the country.