ISLAMABAD: According to Minister of Economic Affairs Omar Ayub Khan, the federal government will provide all possible assistance to provincial bodies to restore human resources by developing a resilient service delivery system and fostering economic opportunities to ensure the country’s economic development.

On Friday, he made his remarks at a signing ceremony for a $400 million loan agreement with the World Bank for the Khyber-Pakhtunkhwa Spending Effectively for Enhanced Development (SPEED) programme.

Read more: KP Govt favors uplift projects value Rs34 billion

The programme aims to help the government of Khyber-Pakhtunkhwa improve the availability and management of public resources for the delivery of primary, middle, and high school education and primary health care in the province.

The strategy would give fiscal planning and budgeting a medium-term outlook to build fiscal space for education and health service delivery while still providing support and staff.

Delegating more financial management authority to line offices, implementing integrated financial management information systems, and modernising procurement procedures would all help to improve public finance management.

The ceremony, according to Ayub, reflects international financial institutions (IFIs) continued trust in Pakistan’s policy and programme. He thanked the World Bank’s country manager for continuing to help Pakistan’s government in achieving long-term economic growth.

Najy Benhassine, World Bank Country Director, emphasized the global lender’s continued financial and technical assistance to the Pakistani government to achieve the country’s priority development goals and support inclusive and sustainable economic growth.

Noor Ahmed, the Secretary of the Economic Affairs Division, was also present.

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