WASHINGTON, June 27, 2019 – The number of tourists to Khyber Pakhtunkhwa (KP) have rapidly increased in recent years. Federal and Provincial governments have prioritized sustainable tourism as a driver of economic growth and job creation. The World Bank committed today $70 million in concessional financing for the Khyber Pakhtunkhwa Integrated Tourism Development Project. .
“. This project will support the province to build the needed capability and finance investments to harness this potential", said Illango Patchamuthu, World Bank Country Director for Pakistan.
. Initial focus will be cover Chitral, Galliyat, Kalam, and Naran. Environmental preservation will be a priority through waste recycling and management, including single-use plastics. Women and youth in the local communities will benefit through enhanced skills.
Pakistan@100: Shaping the Future outlines a pathway for Pakistan to become a prosperous country by 2047, and tourism is among the future drivers of growth.
International Development Association, the concessional financing arm of the World Bank, is financing the KP tourism project.
The World Bank in Pakistan
Pakistan has been a member of the World Bank since 1950. Since then, it has provided $40 billion in assistance. The program is governed by the World Bank Group’s Country Partnership Strategy for FY2015-2020, with four priority areas of engagement: energy, private sector development, inclusion, and service delivery. The current portfolio has 44 projects with a net commitment of $9.2 billion