WEB DESK: World Bank approves $535 million for Pakistan’s crisis-resilient social protection and Sindh Livestock and aquaculture transformation projects.
The World Bank’s Board of Executive Directors has approved $535 million in financing for Pakistan, aimed at supporting two critical initiatives: the Crisis Resilient Social Protection (CRISP) program and the Sindh Livestock and Aquaculture Sectors Transformation (LIVAQUA) project.
Strengthening Social Protection with CRISP
The CRISP program is designed to bolster Pakistan’s social protection system, enhancing resilience among the nation’s poorest and most vulnerable households.
In addition, this initiative is particularly significant in light of the catastrophic floods of 2022, which highlighted the urgent need for vigorous disaster resilience mechanisms. World Bank Country Director for Pakistan, Najy Benhassine, stated that the importance of fortifying social protection and economically vital sectors to foster growth and recovery.
CRISP will receive $400 million of the approved funding, building upon its existing efforts to refine Pakistan’s social protection infrastructure. This includes improving policy frameworks and delivery systems for more efficient crisis response. Since its inception, CRISP has provided regular safety net support to over 9 million families and swiftly assisted 2.8 million families during recent floods, according to Amjad Zafar Khan, Task Team Leader for the project.
The additional financing aims to further enhance resilience to climate and economic shocks and empower provincial capacities in social assistance.
Transforming Sindh’s Livestock and Aquaculture with LIVAQUA
The LIVAQUA project, receiving $135 million, is set to revolutionize climate-smart production in Sindh’s livestock and aquaculture sectors. By promoting value addition and inclusive market access, LIVAQUA will foster growth opportunities and improve sector resilience.
The project will adopt a phased approach, covering all districts in Sindh and directly benefiting over 940,000 farm families, including 930,000 livestock households and 10,000 aquaculture producers. Additionally, it aims to boost female farmers’ participation and address gender disparities.
Leader for the project highlighted that LIVAQUA will enhance the livelihoods of small and medium livestock and aquaculture producers by increasing their resilience to animal health and climate-related shocks. The project is expected to stimulate sectoral growth, improve food and nutrition security, and reduce greenhouse gas emissions from these sectors.
Building a Resilient Future for Pakistan
The World Bank’s approval of these substantial funds demonstrates a significant commitment to supporting Pakistan’s socio-economic resilience and sustainable growth. By strengthening the social protection system through the CRISP program and transforming the livestock and aquaculture sectors with LIVAQUA, these initiatives are set to have a lasting positive impact on the country’s most vulnerable populations.
