WB signs agreement of US$ 85 million for PHFP.

ISLAMABAD -- Pakistan and the World Bank (WB) on Wednesday signed the agreement worth of US$ 85 million for a house finance project to benefit the low- and middle-income households in Pakistan.

The Federal Minister for Economic Affairs, Sardar Ayaz Sadiq witnessed the signing ceremony of agreements of 'Pakistan Housing Finance Project' (PHFP) worth of US$ 85 million with the World Bank at the Ministry of Economic Affairs Islamabad.

Mian Asad Hayaud Din, Secretary, Ministry of Economic Affairs Pakistan and Mr. Gailius J. Draugelis, Acting Country Director, World Bank signed the Financing Agreement while representatives of Pakistan Mortgage Refinance Company (PMRC) signed the Project Agreement.

The Acting Country Director, Mr. Gailius, ensured the World Bank's continuous financial and technical assistance to the Government of Pakistan to help promote inclusive and sustainable economic growth in Pakistan.

While witnessing the signing ceremony, the Minister for Economic Affairs, reiterated the parameters of valued partnership with the World Bank.

He also stated that today's event reflects continued confidence by the World Bank on the Government's policy and programs.

He particularly announced that the primary...