World|business|June 3, 2019 / 12:08 PM
World Bank extends $465 million to Pakistan for CASA-1000 and higher education project

AKIPRESS.COM - The World Bank is committing $465 million through two projects to support higher education in Pakistan and expand sustainable electricity trade between Central Asia and South Asia, the Bank said.

The $400 million Higher Education Development in Pakistan Project will strengthen tertiary education to produce skilled, innovative and enterprising graduates. It will strengthen partnerships with industry for strategic research and develop data-driven governance of tertiary education.

“The project will also support the improvement of teaching and learning at the affiliated college level for improved mid-level skills and employability of graduates.” said Tazeen Fasih, Lead Economist, World Bank. The project supports the Higher Education Commission of Pakistan’s Vision 2025 program, developing tertiary education as part of the Government of Pakistan’s aim to become an upper-middle income country.

The Central Asia-South Asia Electricity Transmission and Trade Project (CASA-1000) will enable sustainable electricity trade between Afghanistan, Kyrgyz Republic, Pakistan and Tajikistan.

The project will use $65 million in additional financing to complete Pakistan’s infrastructure part of the CASA-1000 project. It will help meet the growing energy demand in Afghanistan and Pakistan, by transferring surplus summer hydro power from the Kyrgyz Republic and Tajikistan. “CASA-1000 will also improve livelihoods for people living along the energy corridor, sharing the prosperity associated with the project.” said Fowzia Hassan, Senior Energy Specialist, World Bank.

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