Pakistan, Dec. 20 -- The World Bank has approved $700 million for Pakistan to support macroeconomic stability and public service delivery. The financing is part of the Pakistan Public Resources for Inclusive Development program. The multi-year initiative aligns with Pakistan's IMF-backed reform agenda.

The program uses a multiphase approach to improve spending quality and fiscal transparency. Moreover, it aims to strengthen budget planning, revenue systems, and data-driven decision-making. Funds will be released only after agreed reform targets are achieved.

Out of the total amount, $600 million will support federal programs across Pakistan. In addition, $100 million will finance a separate reform program in Sindh province. Overall, the...