IDB to give $3bn for development

ISLAMABAD: The Islamic Development Bank (IDB) will provide around $3 billion to Pakistan during 2012-15 to help it achieve sustainable socio-economic development. The IDB plans to provide the funding under a new partnership strategy, a copy of which has been obtained by APNA. The assistance will be used for infrastructure development in energy and transport sector; supporting sustainable agriculture and rural development; and enhancing human development in education and health sectors. Among other areas of prospective financing, 10 per cent will be earmarked for the private sector development and 5pc for the Islamic finance and capacity building. The financing will be firmed up during the IDB group programming missions to...

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