The World Bank will provide Pakistan with US$900 million for financing development projects in the education sector and to support the country's poverty alleviation funds.

The agreement was inked on Tuesday by World Bank Acting Country Director Said Al-Habsy, and Pakistan's Secretary of Economic Affairs Division Farrakh Qayyum in Islamabad.

The objective of the project is to empower the targeted rural poor with increased incomes, improve productive capacity and access to services to achieve sustainable livelihoods, officials said at the signing ceremony.

The World Bank will provide an assistance of US$250 million for the Pakistan Poverty Alleviation Fund, according to an agreement.

It will provide US$350 million to eastern Punjab to improve access and quality of education in the province.

Also US$300 million will be provided to southern Sindh education sector projects to improve standard of education in the province.

Al-Habsy said the World Bank would continue its support to Pakistan in social and economic sectors. He said the support would make Pakistan and the provinces to achieve their desired goals.

(Xinhua News Agency June 10, 2009)