Pakistan Competitiveness and Growth Development Policy Credit

Abstract*

The development objective of the Competitiveness and Growth Development Policy Financing Project for Pakistan will be structured around two development objectives and pillars, (i) improving the business environment, and (ii) enhancing fiscal management through improving revenue management and making public spending more pro-poor. The operation contributes to the government’s strategy for accelerating economic growth, pursuing fiscal consolidation... Show More

Development Objective

Project Development Objective (Note: will be disclosed in the MOS) The proposed DPC series seeks to improve the investment climate and fiscal management in Pakistan. Achieving these objectives will lead to increased private and public investment. Board Schedule Comments

Key Details

Project Details

Project ID
P157207
Status
Closed
Team Leader
Enrique Blanco Armas , Connor P. Spreng
Borrower 2
Ministry of Finance

Country
Pakistan
Disclosure Date
January 12, 2016
Approval Date
(as of board presentation)
June 21, 2016
Effective Date
June 28, 2016

Total Project Cost 1
US$ 500.00 million
Implementing Agency
Ministry of Finance, Finance Division, External Finance
Region
Middle East, North Africa, Afghanistan, and Pakistan
Fiscal Year 3
2016

Commitment Amount
US$ 500.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2017

Last Stage Reached
BANK APPROVED
Last Update Date
June 7, 2022

Associated Projects
P159839

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Fiscal Policy25%
- FY17 - Fiscal sustainability15%
- FY17 - Tax policy10%
FY17 - Trade20%
- FY17 - Trade Facilitation20%

FY17 - Finance

FY17 - Financial Stability20%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring20%

FY17 - Public Sector Management

FY17 - Public Finance Management25%
- FY17 - Debt Management15%
- FY17 - Domestic Revenue Administration10%

FY17 - Social Development and Protection

FY17 - Social Protection10%
- FY17 - Social Safety Nets10%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	500.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	500.00
IBRD + IDA Commitment	500.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	500.00

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Feb 1, 2023	IDA-58610	Int Charges	477,093.84
Feb 1, 2023	IDA-58610	Loan Repay	1,678,200.00
Feb 1, 2023	IDA-58610	Loan Repay	47,851.68
Feb 1, 2023	IDA-58620	Loan Repay	175,784.05
Feb 1, 2023	IDA-58620	Loan Repay	5,965,749.00
Feb 1, 2023	IDA-58620	Int Charges	1,326,710.60
Feb 1, 2023	IDA-58620	Int Charges	1,326,710.60
Feb 1, 2023	IDA-58620	Int Charges	1,991,461.20
Feb 1, 2023	IDA-58610	Int Charges	372,866.40
Feb 1, 2023	IDA-58610	Int Charges	372,866.40
Aug 1, 2023	IDA-58620	Int Charges	217,800.08
Aug 1, 2023	IDA-58620	Loan Repay	6,087,776.00
Aug 1, 2023	IDA-58620	Int Charges	1,292,268.90
Aug 1, 2023	IDA-58620	Int Charges	1,292,268.90
Aug 1, 2023	IDA-58620	Int Charges	2,082,957.60
Aug 1, 2023	IDA-58610	Int Charges	59,310.05
Aug 1, 2023	IDA-58610	Loan Repay	1,710,943.60
Aug 1, 2023	IDA-58610	Int Charges	363,186.66
Aug 1, 2023	IDA-58610	Int Charges	363,186.66
Aug 1, 2023	IDA-58610	Int Charges	503,695.78
Aug 1, 2021	IDA-58620	Int Charges	26,197.70
Aug 1, 2021	IDA-58620	Loan Repay	6,492,474.00
Aug 1, 2021	IDA-58620	Int Charges	1,475,562.20
Aug 1, 2021	IDA-58620	Int Charges	1,475,562.20
Aug 1, 2022	IDA-58620	Int Charges	2,204,978.50
Aug 1, 2022	IDA-58610	Loan Repay	1,688,798.90
Aug 1, 2022	IDA-58610	Int Charges	371,819.88
Aug 1, 2022	IDA-58610	Int Charges	371,819.88
Aug 1, 2022	IDA-58610	Int Charges	535,420.70
Aug 1, 2022	IDA-58610	Loan Repay	3,039.39
Aug 1, 2022	IDA-58620	Loan Repay	6,008,627.50
Aug 1, 2022	IDA-58620	Int Charges	1,322,987.00
Aug 1, 2022	IDA-58620	Int Charges	1,322,987.00
Aug 1, 2022	IDA-58620	Loan Repay	11,169.09
Feb 1, 2022	IDA-58610	Int Charges	399,062.88
Feb 1, 2022	IDA-58610	Int Charges	399,062.88
Feb 1, 2022	IDA-58610	Int Charges	574,650.56
Feb 1, 2022	IDA-58610	Loan Repay	32,357.81
Feb 1, 2022	IDA-58620	Loan Repay	118,965.24
Aug 1, 2018	IDA-58620	Int Charges	99,782.34
Aug 1, 2018	IDA-58620	Int Charges	1,449,051.50
Aug 1, 2018	IDA-58620	Int Charges	1,449,051.50
Feb 1, 2018	IDA-58610	Int Charges	581,718.80
Feb 1, 2018	IDA-58620	Int Charges	77,693.21
Aug 1, 2018	IDA-58610	Int Charges	586,439.70
Aug 1, 2018	IDA-58610	Int Charges	25,659.71
Aug 1, 2018	IDA-58610	Int Charges	407,249.78
Aug 1, 2018	IDA-58610	Int Charges	407,249.78
Feb 1, 2021	IDA-58610	Int Charges	417,466.60
Feb 1, 2021	IDA-58610	Int Charges	594,370.00
Aug 1, 2021	IDA-58610	Loan Repay	1,824,682.10
Aug 1, 2021	IDA-58610	Int Charges	414,700.50
Aug 1, 2021	IDA-58610	Int Charges	414,700.50
Aug 1, 2021	IDA-58610	Int Charges	597,168.70
Aug 1, 2021	IDA-58610	Int Charges	6,736.92
Aug 1, 2021	IDA-58620	Int Charges	2,459,270.20
Feb 1, 2020	IDA-58620	Int Charges	22,243.94
Feb 1, 2020	IDA-58620	Int Charges	22,243.94
Feb 1, 2020	IDA-58610	Int Charges	393,939.53
Feb 1, 2020	IDA-58610	Int Charges	393,939.53
Feb 1, 2020	IDA-58610	Int Charges	5,720.19
Feb 1, 2020	IDA-58610	Int Charges	5,720.19
Feb 1, 2020	IDA-58620	Int Charges	1,399,801.10
Feb 1, 2020	IDA-58620	Int Charges	1,399,801.10
Feb 1, 2020	IDA-58620	Int Charges	2,358,921.50
Aug 1, 2020	IDA-58610	Int Charges	410,143.56
Aug 1, 2020	IDA-58610	Int Charges	410,143.56
Aug 1, 2020	IDA-58610	Int Charges	560,902.25
Aug 1, 2020	IDA-58610	Int Charges	2,943.48
Aug 1, 2020	IDA-58620	Int Charges	11,446.29
Aug 1, 2020	IDA-58620	Int Charges	1,459,348.00
Aug 1, 2020	IDA-58620	Int Charges	1,459,348.00
Aug 1, 2020	IDA-58620	Int Charges	2,316,735.80
Feb 1, 2019	IDA-58620	Int Charges	2,365,166.20
Feb 1, 2019	IDA-58610	Int Charges	10,541.47
Feb 1, 2019	IDA-58610	Int Charges	10,541.47
Feb 1, 2019	IDA-58610	Int Charges	395,358.62
Feb 1, 2019	IDA-58610	Int Charges	395,358.62
Feb 1, 2019	IDA-58610	Int Charges	573,717.20
Feb 1, 2019	IDA-58620	Int Charges	40,992.42
Feb 1, 2019	IDA-58620	Int Charges	40,992.42
Feb 1, 2022	IDA-58610	Loan Repay	1,752,976.90
Feb 1, 2022	IDA-58620	Loan Repay	6,233,505.00
Feb 1, 2021	IDA-58620	Int Charges	1,485,404.40
Feb 1, 2021	IDA-58620	Int Charges	1,485,404.40
Feb 1, 2021	IDA-58620	Int Charges	2,449,301.50
Feb 1, 2021	IDA-58620	Int Charges	117,573.45
Feb 1, 2021	IDA-58610	Int Charges	30,234.82
Feb 1, 2021	IDA-58610	Int Charges	417,466.60
Aug 1, 2024	IDA-58620	Int Charges	1,233,564.80
Aug 1, 2024	IDA-58620	Int Charges	2,040,836.60
Aug 1, 2024	IDA-58620	Loan Repay	6,000,132.00
Aug 1, 2024	IDA-58610	Loan Repay	6,522.73
Aug 1, 2024	IDA-58610	Loan Repay	1,686,516.00
Aug 1, 2024	IDA-58610	Int Charges	346,688.12
Feb 1, 2024	IDA-58610	Int Charges	19,137.34
Feb 1, 2024	IDA-58610	Loan Repay	1,697,138.20
Feb 1, 2024	IDA-58610	Int Charges	353,891.88
Feb 1, 2024	IDA-58610	Int Charges	353,891.88
Feb 1, 2024	IDA-58610	Int Charges	509,604.30
Feb 1, 2024	IDA-58620	Int Charges	70,252.30
Feb 1, 2024	IDA-58620	Loan Repay	6,038,654.50
Feb 1, 2024	IDA-58620	Int Charges	1,259,196.80
Feb 1, 2024	IDA-58620	Int Charges	1,259,196.80
Jun 21, 2016	IDA-58610	Loan Commitment	109,700,000.00
Jun 21, 2016	IDA-58620	Loan Commitment	390,300,000.00
Aug 1, 2024	IDA-58610	Int Charges	346,688.12
Aug 1, 2024	IDA-58610	Int Charges	495,113.28
Feb 1, 2024	IDA-58620	Int Charges	2,098,661.20
Aug 1, 2024	IDA-58620	Loan Repay	23,935.84
Aug 1, 2024	IDA-58620	Int Charges	1,233,564.80
Feb 1, 2022	IDA-58620	Int Charges	1,419,921.50
Feb 1, 2022	IDA-58620	Int Charges	1,419,921.50
Feb 1, 2022	IDA-58620	Int Charges	2,366,535.80
Aug 1, 2018	IDA-58620	Int Charges	2,415,086.00
Feb 1, 2019	IDA-58620	Int Charges	1,403,256.90
Feb 1, 2019	IDA-58620	Int Charges	1,403,256.90
Aug 1, 2019	IDA-58620	Int Charges	2,357,475.80
Aug 1, 2019	IDA-58610	Int Charges	10,556.83
Aug 1, 2019	IDA-58610	Int Charges	397,535.12
Aug 1, 2019	IDA-58610	Int Charges	397,535.12
Aug 1, 2019	IDA-58610	Int Charges	572,450.56
Aug 1, 2019	IDA-58620	Int Charges	41,052.06
Aug 1, 2019	IDA-58620	Int Charges	1,414,485.40
Aug 1, 2019	IDA-58620	Int Charges	1,414,485.40
Feb 1, 2020	IDA-58610	Int Charges	572,641.75
Feb 1, 2017	IDA-58610	Int Charges	70,330.28
Feb 1, 2017	IDA-58610	Int Charges	70,330.28
Jun 29, 2016	IDA-58620	Loan Disb	384,422,592.00
Jun 29, 2016	IDA-58610	Loan Disb	108,040,336.00
Feb 1, 2017	IDA-58610	Int Charges	101,275.61
Feb 1, 2017	IDA-58620	Int Charges	2,314,713.20
Feb 1, 2017	IDA-58620	Int Charges	417,074.94
Feb 1, 2017	IDA-58610	Int Charges	395,607.84
Feb 1, 2017	IDA-58610	Int Charges	395,607.84
Feb 1, 2017	IDA-58610	Int Charges	561,617.75
Feb 1, 2017	IDA-58620	Int Charges	250,244.95
Feb 1, 2017	IDA-58620	Int Charges	250,244.95
Feb 1, 2017	IDA-58620	Int Charges	1,407,627.90
Feb 1, 2017	IDA-58620	Int Charges	1,407,627.90
Aug 1, 2017	IDA-58610	Int Charges	8,346.81
Aug 1, 2017	IDA-58620	Int Charges	1,458,160.40
Aug 1, 2017	IDA-58620	Int Charges	1,458,160.40
Aug 1, 2017	IDA-58620	Int Charges	2,354,899.80
Aug 1, 2017	IDA-58620	Int Charges	32,457.99
Aug 1, 2017	IDA-58610	Int Charges	409,809.78
Aug 1, 2017	IDA-58610	Int Charges	409,809.78
Aug 1, 2017	IDA-58610	Int Charges	570,744.80
Feb 1, 2018	IDA-58620	Int Charges	1,503,157.20
Feb 1, 2018	IDA-58620	Int Charges	1,503,157.20
Feb 1, 2018	IDA-58620	Int Charges	2,401,754.00
Feb 1, 2018	IDA-58610	Int Charges	19,979.34
Feb 1, 2018	IDA-58610	Int Charges	422,455.97
Feb 1, 2018	IDA-58610	Int Charges	422,455.97

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Moderately Satisfactory	2017-06-23
Monitoring and Evaluation	Satisfactory	2017-06-23
Progress towards achievement of PDO	Moderately Satisfactory	2017-06-23
Overall Implementation Progress (IP)	Moderately Satisfactory	2017-06-23

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 02-09-2019
Outcomes	Moderately Satisfactory
Risk to Development Outcome	Substantial
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Moderately Satisfactory
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 04-27-2020	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	Substantial	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Satisfactory	N/a
Government Performance	Moderately Satisfactory	N/a
Implementing Agency	Not Rated	N/a
Icr Quality	Substantial	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Doing Business Distance to Frontier Indicators for Getting Credit Value 30 50
Date May 31, 2016 October 31, 2017
Comment
Increase in the number of taxpayers who submit a tax return online by end-March the following year Value 419910.00 900403.00 773000.00
Date March 31, 2015 March 31, 2017 March 31, 2017
Comment
Increased listed capital in capital markets (PKR trillion) Value 1.18 1.30 1.46
Date June 30, 2015 March 31, 2017 June 30, 2017
Comment
Housing Finance Market as a percentage of private sector credit Value 1.60 0.00 2.00
Date December 31, 2014 December 29, 2017
Comment
Availability of consolidated SOE financial information Value No Yes Yes
Date June 30, 2015 June 16, 2017 December 29, 2017
Comment
SLIC is subject to same rules as other corporate insurance companies Value No No Yes
Date June 30, 2015 June 16, 2017 December 29, 2017
Comment
Tax/GDP ratio Value 11.00 12.60 12.20
Date June 30, 2015 June 30, 2016 June 30, 2017
Comment
Share of foreign debt as a percentage of total public debt Value 28 27.8 20-35, in line with MTDS
Date June 30, 2015 December 30, 2016 June 30, 2017
Comment
Number of households with updated poverty scorecard information registered in the National Socio-Economic Registry (million) Value 0.00 2.46 2.50
Date June 30, 2015 May 31, 2017 June 30, 2017
Comment

Adoption of a new poverty line	Value	No poverty rate published since 2005-06	New poverty rate published using latest data (2013	New poverty rate published using latest data (2013
	Date	June 30, 2015	June 16, 2017	June 30, 2017
	Comment

Increase in the number of taxpayers who submit a tax return online by end-March the following year	Value	419910.00	900403.00	773000.00
	Date	March 31, 2015	March 31, 2017	March 31, 2017
	Comment

Increased listed capital in capital markets (PKR trillion)	Value	1.18	1.30	1.46
	Date	June 30, 2015	March 31, 2017	June 30, 2017
	Comment

Housing Finance Market as a percentage of private sector credit	Value	1.60	0.00	2.00
	Date	December 31, 2014		December 29, 2017
	Comment

Tax/GDP ratio	Value	11.00	12.60	12.20
	Date	June 30, 2015	June 30, 2016	June 30, 2017
	Comment

Share of foreign debt as a percentage of total public debt	Value	28	27.8	20-35, in line with MTDS
	Date	June 30, 2015	December 30, 2016	June 30, 2017
	Comment