In islamabad: The Islamic Development Bank (IsDB) has entered into three significant financing agreements with the government of Pakistan, collectively valued at $603.4 million. These agreements were formalized by IsDB Vice President for Operations Dr. Rami Ahmad, with Federal Minister for Economic Affairs Ahad Khan Cheema and other officials in attendance.
According to Saudi Press Agency, the first agreement, amounting to $118.4 million, is set to benefit 68,500 households. This funding is aimed at improving livelihoods by significantly contributing to job creation and the development of human capital.
The second agreement allocates $475 million towards the M6 Motorway project. This project involves a 120.8 km stretch of the Peshawar-Karachi Motorway and is intended to complete the missing link in the north-south corridor, thereby enhancing connectivity.
The third agreement, valued at $10 million, is dedicated to educating out-of-school children. This initiative aims to benefit 60,000 children through non-formal education methods, upgrade 135 schools, establish 250 educational centers, train 4,000 teachers, and build flexible and resilient educational facilities.