World Bank to provide $120 mn to Pakistan for its Green Stimulus initiative

The World Bank on Thursday announced that it will provide USD 120 million to Pakistan for its Green Stimulus initiative launched last year to create green jobs for those youth who became jobless due to the coronavirus pandemic. World Bank country director Najy Benhassine met Special Assistant to the Prime Minister on Climate Change Amin Aslam, according to an official statement.

He said that the bank would help Pakistan in achieving enhanced disaster resilience, particularly the Green Stimulus initiative, which provided employment to youth who became jobless due to COVID-19. The Green Stimulus initiative was launched last year by Prime Minister Imran Khan in April after COVID-19 hit the country for creation of green jobs for those youth, who were rendered jobless from various sectors due to closure of business and assorted economic activities.

Benhassine informed the PM’s aide that funding of USD 120 million pledged for Prime Minister Khan’s Green Stimulus initiative has already been approved, according to the statement. The country director appreciated Prime Minister Khan’s vision for Clean Green Pakistan programme and various green projects, particularly 10 Billion Tree Tsunami Programme (TBTTP).

Benhassine said the World Bank is mulling over replication of Pakistan’s green initiatives in other countries in different parts of the world. The Green Stimulus initiative has led to generation of 87,000 green jobs for the youth rendered unemployed because of the COVID-19 pandemic, Aslam said. The two sides also vowed to collaborate towards combating deleterious aftermaths of the global health crisis of the COVID-19 pandemic and global warming on various socioeconomic sectors.