World Bank's huge loan to Pakistan "historic": PM

Pakistani Prime Minister Shaukat Aziz Friday described as "historic" a decision by the World Bank to extend 6.5 billion U.S. dollars to Pakistan for development projects and reforms.

"This decision is very historic because to make four years commitment for such a mammoth amount is clearly unusual," Aziz said.

The state APP news agency quoted Aziz as saying that the World Bank decision reflected its confidence in Pakistan's leadership and economic management.

Aziz said that the decision would provide a major boost to Pakistan's economy by providing resources for the infrastructure development, facilities of health, education and human resources development.

The lending of up to 6.5 billion U.S. dollars by the World Bank is seen as the largest loan money of its history, which will be spent on energy, poverty alleviation and education, irrigation, municipal services and other fields.

Source: Xinhua