The World Bank’s Board of Executive Directors has approved $535 million in financing for Pakistan, targeting two key initiatives: the Crisis Resilient Social Protection (CRISP) program and the Sindh Livestock and Aquaculture Sectors Transformation (LIVAQUA) project.
According to the global lender, CRISP aims to enhance Pakistan’s social protection system, making it more resilient to shocks affecting poor and vulnerable households. The LIVAQUA project will focus on promoting climate-smart practices and competitiveness among small and medium producers in Sindh’s livestock and aquaculture sectors.
Najy Benhassine, World Bank Country Director for Pakistan, highlighted the importance of building resilience against disasters like the catastrophic floods of 2022. He emphasized the need for innovative climate-smart technology and contingency planning to help vulnerable populations absorb climate shocks.
The CRISP program will receive $400 million of the total financing, building on its existing efforts to equip Pakistan’s social protection system with the necessary policy and delivery mechanisms for more effective crisis response. The program aims to improve the national cash transfer system’s effectiveness, coverage, and coordination between federal and provincial levels. Since its inception, CRISP has provided regular safety net support to over 9 million families and swiftly reached 2.8 million families during recent floods. The additional funding will further help families become resilient to climate and economic shocks and encourage provincial capacities in social assistance.
The LIVAQUA project will receive $135 million to promote climate-smart production, value addition, and market access in Sindh’s livestock and aquaculture sectors. This project will directly benefit over 940,000 farm families, including 930,000 livestock households and 10,000 aquaculture producers, with a focus on female farmers to narrow gender gaps. The initiative aims to improve the livelihoods and resilience of small and medium producers, enhance food and nutrition security, and reduce greenhouse gas emissions from these sectors.
Overall, these projects will contribute significantly to economic growth, recovery, and resilience in Pakistan.
