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.
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Project Terms
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
