Pakistan and World Bank sign US$ 09 million accord for Competitive Industries Project in Khyber Pakhtunkhwa

Islamabad, September 17, 2013 (PPI-OT): Government of Pakistan has signed a Grant agreement of US$ 09 million with the World Bank for “Competitive Industries Project in Khyber Pakhtunkhwa” to be funded under Multi Donor Trust Fund (MDTF) at Islamabad today.

The Agreement was signed by Ms. Nargis Sethi, Secretary Economic Affair Division on behalf of the Government of Pakistan, Mr. Sajid Khan Jadoon, Secretary Industry, on behalf of the Government of Khyber Pakhtunkhwa and Mr. Rachid Benmessaoud, Country Director World Bank on behalf of World Bank.

The agreement is in line with the present government policy of generating economic activities in all the federating units particularly Khyber Pakhtunkhwa to offset effects of the fight against militancy and extremism.

The project aims to improve the competitiveness of the marble and food processing sectors in KP by providing shared infrastructure and relevant skills along the marble sector value chain and by addressing knowledge and coordination gaps along the food processing sector value chain.

The economic benefits of the project’s investments will derive from a net increase in the economic value added, which will occur as a result of existing activities being undertaken at a higher productivity level, and also as a result of new activities that are expected to boost the overall productive capacity of the sectors.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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