World Bank considers a $250m loan to help enhance human capital

World Bank considers $250m loan to help enhance human capital

ISLAMABAD: The World Bank is considering the provision of a $250 million loan to Pakistan for enhancing the civil registration and vital statistics (CRVS), health and education systems essential for improvement of human capital, and increasing the contribution of women to economic productivity, and federal safety nets to respond to unexpected situations more efficiently.

According to the World Bank, the proposed operation is the first in a series of two Development Policy Credit (DPC) operations for the project known as ‘Securing Human Investments to Foster Transformation’ (Shift). For the growth of a sustainable economy, the project aims to create resilient institutions which would support medium-term structural reforms over the next three years focusing on fiscal growth, competitiveness and growth and human capital outcomes for productivity gains.

Pakistan is currently lagging in investment in its people. The country currently ranks low on the World Bank Human Capital Index. As the index is calculated by measuring productivity, human capital accumulation is necessary. If no measures are taken, then Pakistani children will only be 40% as productive as they would be when turning the age of 18.

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