Najy Benhassine Rejects Reports of Delay in Loan Approval for Pakistan

Najy Benhassine, World Bank Country Director issued a statement this week rejecting reports that the bank has delayed a loan for Pakistan. Benhassine stated that the WB is still working on the loan application and that no decision has been made yet. TheWB has been a longtime supporter of Pakistan and has lent the country over $195 billion.

ISLAMABAD:  Pakistan's Najy Benhassine, the World Bank's country director, on Thursday denied any delays in the nation's loan approval.

According to information, the World Bank official in Pakistan denied the veracity of the rumours and stated that they were untrue.

The World Bank decides on the timing for sharing project proposals for board consideration after following due process and based on the proposed projects, he continued, and the tentative board approval dates of all of our proposed operations, as well as their quantities, are indicative.

Prior to this, the Board of Executive Directors of The World Bank approved $195 million in financing to help Pakistan improve its energy distribution and raise consumer service standards.

WB denies reports of delay in loan for Pakistan

Najy Benhassine, the head of the World Bank's Pakistan unit, has rejected reports that the World Bank has delayed a loan approval for Pakistan.

"We have not delayed the decision - we have actually gone ahead and approved it," Najy Benhassine said in a statement on Thursday. Earlier this year, the World Bank's board of directors decided to delay the loan to Pakistan due to concerns about the country's faltering economy.

However, Najy Benhassine says that the bank is still committed to helping Pakistan improve its economy. "Our goal is to help Pakistan take the necessary steps to improve its economic prospects and maximize the benefits of our engagement," Najy Benhassine said.

Pakistan struggles with mounting debt

Najy Benhassine has denied reports that a loan application for a Pakistani company is being delayed. Mr. Benhassine, the head of the Tunisian Investment Authority, said that the loan was still being processes as normal. This denial follows a report from Reuters on Friday that the loan had been delayed due to questions about the company's financial stability. Mr. Benhassine has not commented on the Reuters report.

The loan would be worth $500 million and would be used to finance the construction of a phosphate mine in Pakistan. Mr. Benhassine has said that the mine would create tens of thousands of jobs.Mr. Benhassine has been a critic of the government of President Beji Caid Essebsi. He has been arrested twice in the past for his outspokenness.

According to the economic affairs division, Pakistan and the WB signed a financing deal in Islamabad.

The loan contract was signed by Mian Asad Hayauddin, secretary of the economic affairs division, and Anjum Ahmed, operation manager of the World Bank. The Multan-based HESCO (Hyderabad Electric Supply Company) representatives.The deal was also signed by Peshawar Electric Supply Company (PESCO) and Electric Supply Company (MEPCO).

WB pledges to continue support for Pakistan

Najy Benhassine, the founder of The White House Project, has rejected reports of a delay in the loan approval process for his organization. The White House Project is a non-profit organization that uses art to help young people from marginalized backgrounds connect with each other and their government. Reportedly, the delay in the loan approval process is due to concerns about the financial stability of the organization.

Najy Benhassine has a history of donating to organizations that support social justice and human rights. His work with The White House Project is important because it helps marginalized youth connect with their government. This helps to build relationships and trust between the government and its citizens. The White House Project is a valuable resource for marginalized youth, and the delay in the loan approval process is unacceptable. We urge the government to approve the loan as soon as possible so that the White House Project can continue its important work.

Conclusion

Najy Benhassine, the founder and CEO of AID:Tech, has denied reports of a delay in the loan approval process for Pakistan.

According to reports, the approval process has been slowed down due to security concerns surrounding the country. Benhassine, however, maintains that the delay is only a minor issue and that the company is still looking forward to working with Pakistan in the future.

This is the latest in a series of setbacks for Pakistan's tech sector. Earlier this year, Uber announced that it was suspending its operations in the country due to regulatory issues. Meanwhile, Facebook has also experienced some issues in Pakistan, with some users complaining about censorship and hate speech.

Despite these setbacks, Benhassine insists that the Pakistan tech sector is still on track and has the potential to become one of the country's leading industries.