Latest news with #MuhammadBilalParacha
Business Recorder
30-04-2025
- Business
- Business Recorder
World Bank approves $108m more aid for KP projects
ISLAMABAD: The World Bank has approved $108 million in additional financing for the Rural Accessibility Project ($78 million) and the Khyber Pakhtunkhwa Integrated Tourism Development Project ($30 million) to enable both projects to achieve their objectives in improving access to health and education services, markets and jobs, in a way that strengthens resilience to natural disasters in the province. 'By rehabilitating critical rural road infrastructure and enhancing disaster preparedness, the Khyber Pakhtunkhwa Rural Accessibility Project and the Khyber Pakhtunkhwa Integrated Tourism Development Project are not only improving access to essential services like health and education, but also fostering climate, economic resilience and creating job opportunities for local communities,' said Najy Benhassine, World Bank Country Director for Pakistan. The $78 million in additional financing for the Khyber Pakhtunkhwa Rural Accessibility Project (KPRAP) will focus on providing safe and climate resilient road infrastructure, by upgrading and rehabilitating rural roads, thereby improving access to services including schools, health facilities, and markets. The project is also supporting safe and affordable transport to school for girls. Overall, around 1.76 million people are expected to benefit from the project. 'This additional financing underscores the World Bank's commitment to supporting Pakistan's and Khyber Pakhtunkhwa Province's development goals,' said Muhammad Bilal Paracha, Task Team Leader for the project. 'The project is crucial for improving the lives of people in the province, particularly women and girls, by enhancing access to essential services and economic opportunities.' The $30 million in additional financing for the Khyber Pakhtunkhwa Integrated Tourism Development Project (KITE) will help enhance the province's tourism sector by completing the rehabilitation of two roads that will improve access to the province's pristine tourist spots in the vicinity. It will also support technical assistance and capacity building for the tourism industry and public sector stakeholders. The additional financing will support better destination management, heritage conservation, and the integration of digital platforms in Khyber Pakhtunkhwa's tourism industry. 'The KITE project is encouraging responsible tourism in Khyber Pakhtunkhwa in collaboration with public and private sector stakeholders,' said Kiran Afzal, Task Team Leader for the project. 'This means better roads, improved tourist facilities, and more opportunities for local communities to benefit from the growth of the tourism economy. The project will create jobs, train local people, and preserve the country's rich cultural heritage.' Copyright Business Recorder, 2025
Hindustan Times
29-04-2025
- Business
- Hindustan Times
World Bank sanctions $108m to Pakistan for women empowerment projects
The World Bank has sanctioned additional funding of USD 108 million for improving the lives of women and girls by enhancing their access to essential services and economic opportunities in Khyber Pakhtunkhwa province in northwest Pakistan. The Pakhtunkhwa Integrated Tourism Development (KITE) and the Khyber Pakhtunkhwa Rural Accessibility Project (KPRAP) have an estimated value of USD 30 million and USD 78 million respectively. Also read | 8 Pakistani workers killed by Baloch militants in Iran's Sistan-Baluchestan province According to a release from the World Bank, the funding has been granted to help both projects accomplish their goals of increasing access to markets, jobs, and health and education services in a way that increases the province's resilience to natural catastrophes. The USD 78 million in additional financing for the KPRAP will focus on providing safe and climate resilient road infrastructure, by upgrading and rehabilitating rural roads, thereby improving access to services including schools, health facilities, and markets. 'The project is crucial for improving the lives of people in the province, particularly women and girls, by enhancing their access to essential services and economic opportunities,' said Muhammad Bilal Paracha, Task Team Leader for the project. Also read | Pakistan charges Baloch activist with 'terrorism' The USD 30 million in additional financing for the KITE will help enhance the province's tourism sector by completing the rehabilitation of two roads that will improve access to the province's pristine tourist spots in the vicinity. 'This additional financing underscores the World Bank's commitment to supporting Pakistan's and Khyber Pakhtunkhwa province's development goals,' Paracha said.
Indian Express
29-04-2025
- Business
- Indian Express
World Bank sanctions USD 108 mn for Pakistan's Khyber Pakhtunkhwa
The World Bank has sanctioned additional funding of USD 108 million for improving the lives of women and girls by enhancing their access to essential services and economic opportunities in Khyber Pakhtunkhwa province in northwest Pakistan. The Pakhtunkhwa Integrated Tourism Development (KITE) and the Khyber Pakhtunkhwa Rural Accessibility Project (KPRAP) projects have an estimated value of USD 30 million and USD 78 million respectively. According to a release from the World Bank, the funding has been granted to help both projects accomplish their goals of increasing access to markets, jobs, and health and education services in a way that increases the province's resilience to natural catastrophes. The USD 78 million in additional financing for the KPRAP will focus on providing safe and climate resilient road infrastructure, by upgrading and rehabilitating rural roads, thereby improving access to services including schools, health facilities, and markets. 'The project is crucial for improving the lives of people in the province, particularly women and girls, by enhancing their access to essential services and economic opportunities,' said Muhammad Bilal Paracha, Task Team Leader for the project. The USD 30 million in additional financing for the KITE will help enhance the province's tourism sector by completing the rehabilitation of two roads that will improve access to the province's pristine tourist spots in the vicinity. 'This additional financing underscores the World Bank's commitment to supporting Pakistan's and Khyber Pakhtunkhwa province's development goals,' Paracha said.
Express Tribune
29-04-2025
- Business
- Express Tribune
World Bank approves $108m for rural, tourism projects in K-P
Listen to article The World Bank has approved an additional $108 million in financing for two crucial development projects in Khyber-Pakhtunkhwa (K-P), Pakistan. The funding will support efforts to improve access to social services, enhance tourism, and boost resilience to natural disasters in the province. The financial support includes $78 million for the Khyber-Pakhtunkhwa Rural Accessibility Project (KPRAP) and $30 million for the Khyber-Pakhtunkhwa Integrated Tourism Development Project (KITE). Both initiatives aim to enhance infrastructure, create job opportunities, and improve access to essential services for local communities. The KPRAP project will focus on rehabilitating and upgrading rural roads, with a particular emphasis on making these roads climate-resilient. These improvements will enhance connectivity to vital services such as healthcare, education, and markets. Additionally, the project will ensure that girls have safe and affordable transport to schools, thereby promoting gender equality in education. Around 1.76 million people are expected to benefit from these improvements. 'This project is crucial for improving the lives of people in the province, particularly women and girls, by enhancing access to essential services and economic opportunities,' said Muhammad Bilal Paracha, Task Team Leader for KPRAP. 'The road upgrades will foster not only greater accessibility but also climate resilience in the region.' The $30 million in financing for the KITE project is designed to support the development of Khyber-Pakhtunkhwa's tourism sector. This will include the rehabilitation of roads leading to key tourist destinations, making it easier for visitors to access pristine locations in the province. The project will also provide technical assistance for better destination management, heritage conservation, and the integration of digital platforms within the tourism industry. In doing so, the initiative aims to create new job opportunities, train local communities, and preserve the region's rich cultural heritage. 'The KITE project encourages responsible tourism in Khyber-Pakhtunkhwa by collaborating with both public and private sector stakeholders,' said Kiran Afzal, Task Team Leader for KITE. 'By improving roads and tourist facilities, we are helping local communities benefit from the growth of the tourism economy.' The World Bank's investment in these projects highlights its commitment to supporting Pakistan's long-term development goals, particularly in the face of climate change and natural disasters. The focus on both infrastructure and tourism underscores the importance of sustainable development that creates lasting social and economic benefits for communities. 'These projects are not just about improving roads and infrastructure, but about fostering climate and economic resilience,' said Najy Benhassine, World Bank Country Director for Pakistan. 'They will enhance access to essential services, create job opportunities, and improve the lives of millions of people in Khyber-Pakhtunkhwa.' With the backing of the World Bank, both KPRAP and KITE are expected to drive significant progress in improving livelihoods, fostering economic development, and enhancing climate resilience in Khyber-Pakhtunkhwa, a province that is home to diverse communities and rich natural resources.
Business Recorder
29-04-2025
- Business
- Business Recorder
World Bank approves $108mn additional financing for KP projects
ISLAMABAD: The World Bank has approved $108 million in additional financing to the Rural Accessibility Project ($78 million) and to the Khyber Pakhtunkhwa Integrated Tourism Development Project ($30 million) to enable both projects achieve their objectives in improving access to health and education services, markets and jobs, in a way that strengthens resilience to natural disasters in the province. 'By rehabilitating critical rural road infrastructure and enhancing disaster preparedness, the Khyber Pakhtunkhwa Rural Accessibility Project and the Khyber Pakhtunkhwa Integrated Tourism Development Project are not only improving access to essential services like health and education, but also fostering climate, economic resilience and creating job opportunities for local communities,' said Najy Benhassine, World Bank Country Director for Pakistan, in a statement on Tuesday. IMF-World Bank meetings end with little tariff clarity, but economic foreboding The $78 million in additional financing for the Khyber Pakhtunkhwa Rural Accessibility Project (KPRAP) will focus on providing safe and climate resilient road infrastructure, by upgrading and rehabilitating rural roads, thereby improving access to services including schools, health facilities, and markets. The project is also supporting safe and affordable transport to school for girls. Overall, around 1.76 million people are expected to benefit from the project. 'This additional financing underscores the World Bank's commitment to supporting Pakistan's and Khyber Pakhtunkhwa Province's development goals,' said Muhammad Bilal Paracha, Task Team Leader for the project. 'The project is crucial for improving the lives of people in the province, particularly women and girls, by enhancing access to essential services and economic opportunities.' The $30 million in additional financing for the Khyber Pakhtunkhwa Integrated Tourism Development Project (KITE) is expected to help enhance the province's tourism sector by completing the rehabilitation of two roads that will improve access to the province's pristine tourist spots in the vicinity. Pakistan: World Bank likely to extend CD for CASA-1000 It will also support technical assistance and capacity building for the tourism industry and public sector stakeholders. The additional financing will support better destination management, heritage conservation, and the integration of digital platforms in Khyber Pakhtunkhwa's tourism industry. 'The KITE project is encouraging responsible tourism in Khyber Pakhtunkhwa in collaboration with public and private sector stakeholders,' said Kiran Afzal, Task Team Leader for the project. 'This means better roads, improved tourist facilities, and more opportunities for local communities to benefit from the growth of the tourism economy. The project will create jobs, train local people, and preserve the country's rich cultural heritage.'
