Government Plans to start house financing project worth $150 million for poor

The government is planning to initiate house financing project for low-income Pakistanis with $150 million from the World Bank according to the report.

The government is seeking a soft loan from the World Bank worth $150 million in order to finance the project. The housing finance programme will provide affordable financing for their homes according to the official sources.

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The World Bank will provide the government with the loan in two parts $145 million and $5 million, according to the sources the loan will be given at the cheapest interest rates. The interest rate on the loan is as low as 1.25 percent, State Bank of Pakistan will disburse this loan to commercial banks where they will utilize the money for mortgage purposes.

The government has also initiated the healthcare programme via health cards, under this scheme, the poor people would be able to get high-quality healthcare services in private hospitals and clinics using health cards provided by the government free of cost.

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