Pakistan education sector gets $400m from World Bank

Pakistan education sector gets $400m from World Bank

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Pakistan, which spends less than 1.5 per cent of its gross domestic product (GDP) on schooling and has one of the world's worst education system sees signs of development after the World Bank approved a $400 million loan. The denominations as per the World Bank shows that $300 million would go to projects at the university level and the K-12 is benefitted with $50 million each for provincial reform projects in Punjab and Sindh. World Bank Country Director for Pakistan Rachid Benmessaoud said,” Pakistan's transition to a middle-income country in the global knowledge economy of the 21st century will depend critically on the country's intellectual and human capital”, adding to achieve this objective, Pakistan needs to upscale its entire education system. This loan comes at a time when Pakistan is going through what the independent Pakistan Education Task Force said was an “education emergency” and what many think is the country's most pressing long-term challenge.

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