Ishaq Dar lands in US to secure $1.7billion World Bank loan for Pakistan

Ishaq Dar

WEB DESK – The federal Finance Minister Ishaq Dar arrived in the US for securing the loans from the World Bank worth $ 1.7 billion for various development projects in the country including the one related to power generation.

According to official statements, Dar reached the US on Monday where he would also bee meeting with the US officials and members of International Monetary Fund (IMF).

On April 9, Dar and his team will attend a meeting of the US-Pakistan Strategic Dialogue’s working group on economy and finance.

PakistanTribe reported earlier that the World Bank’s management had showed interest in leasing out major projects in Pakistan including Dasu Hydro-Power Project. World Bank was willing to give loan worth $ 700 million for this power generation project.

In order to keep World Bank’s interest alive, the federal government of Pakistan cleared the Rs 486 billion first phase of the Dasu Hydropower Project to pave the way for approval of a $700 million loan by the board of directors of the World Bank.

The WB board is expected to approve the loan in May.

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