On Saturday the World Bank expressed its inclination to finance the research projects in Pakistan, which are aimed at improving the socio-economic development and are linked to the sustainable development goals.
Graham Harrison—the representative of World Bank said that the bank is ready to fund the research projects which would be bringing the socioeconomic development and help the nation in acquiring sustainable development objectives.
He expressed these remarks while addressing a workshop on a roadshow on the new R&D framework of HEC. The Higher Education Commission of Pakistan and the University of Punjab Office of Research, Innovation and Commercialisation (ORIC) co-hosted the workshop.
Harrison said that the World Bank has allotted $700,000 for the research projects that would be focusing on resolving the local issues.
The government has been stressing the need for the need-oriented researches in the institutions for improving the effectiveness of the policies. Lack of empirical data is creating problems in the policymaking. The government has been calling for the improvement of the academia-corporate linkage.
The commitment of the World Bank coincided with the decision of the bank to restore the budgetary assistance to Pakistan. The support has been stopped since 2017.
Harrison said that the researchers of Pakistan should work on the academic ideas that could be commercialised. He said that the research project should be such that may resolve the issues being experienced today.
He added that the World Bank encourages the transfer and promotion of innovation and entrepreneurship culture.