WB to continue providing loans to Pakistan
Updated at: 1837 PST, Tuesday, October 06, 2009
WASHINGTON: World Bank (WB) will provide loans to Pakistan for poverty alleviation and other development projects through International Bank for Reconstruction and Development; these loans will be extremely cheap, Geo News reported Tuesday.

The WB indicated that it would continue providing Pakistan with loans for poverty alleviation and development progress via International Bank for Reconstruction and Development.

According to experts, there is at least 0.75 percent interest rate on the direct loans achieved by Pakistan; however, the loans through International Bank for Reconstruction and Development would be very inexpensive.

IBRD was established in 1944 and is subsidiary of the WB. It has 186 members around the world at present.