However, it is not new money, as the World Bank has already approved projects or it diverted funds from the schemes that were moving slow and the lender was considering cancelling those loans. This fact had also been highlighted by World Bank Vice President for the South Asia Region Martin Raiser at the Geneva Conference. Also, on December 19, 2022, the WB had approved $1.3 billion worth of projects to support the recovery, rehabilitation and reconstruction process. At the Geneva conference, Pakistan had received at total $9.7 billion worth of pledges, including $2 billion that the WB had already given in various forms. The World Bank is funding 54 operations in Pakistan costing $13 billion, which include both the IDA and IBRD loans.
