Pakistan: Additional Financing for Second Poverty Alleviation Fund (PPAF) Project

WASHINGTON, October 11, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

IBRD LOAN: US$75 million

TERMS: Maturity = 35 years; Grace period = 10 years.
PROJECT DESCRIPTION: Under PPAF over 10,000 community infrastructure projects have been completed, and more than half of these provide safe drinking water or access to safe sanitation; 1.2 million micro-credit loans have been provided with 99.8% repayment rate; and over 200,000 people have been trained in various skills. This additional financing will support a new social mobilization component and aims to mobilize five million people in 25 of the country’s poorest districts into community organizations and local support organizations. This will create the foundation for the scaling up of PPAF poverty reduction programs under the planned Third Poverty Alleviation Fund Project, and other activities -- including linking with local government and development programs of provincial and federal governments.

For more information, please call Erik Nora at (202) 458-4735 or email:enora@worldbank.org