World Bank cancels USD 500 million loan to Pakistan

Islamabad [Pakistan], December 13 (ANI): The World Bank has cancelled a budget support loan of over USD 500 million to Pakistan after Islamabad failed to meet key conditions on time, including the revision of power purchase agreements under the China-Pakistan Economic Corridor (CPEC), as reported by The Express Tribune.

The Washington-based lender has also announced that it will not provide any new budget support loans du