World Bank extends PRIDE project to June 2026 for completion of key reforms

The World Bank has granted a 10-month extension to the Punjab Resource Improvement and Digital Effectiveness (PRIDE) project, moving the closing date from August 31, 2025, to June 30, 2026, to allow sufficient time for the completion of critical reforms.

According to official documents, the Economic Affairs Division (EAD) formally submitted the request on July 22, 2025, following earlier deliberations with the Punjab government. The extension aims to ensure the smooth completion of business process re-engineering, development of a disaster risk financing strategy, and other key fiscal and digital initiatives.

The PRIDE Programme, originally approved in December 2020 and effective since January 2021, is financed through a $304 million loan from the International Bank for Reconstruction and Development (IBRD). Its core objectives include strengthening Punjab’s revenue base, improving fiscal management, and expanding digital public services.

The World Bank noted that the revised timeline would consolidate results already achieved while safeguarding the sustainability of reforms. The programme also remains aligned with the Country Partnership Framework (CPF), particularly its goal of expanding fiscal space and improving the efficiency of public spending.

Officials highlighted that the extension was necessary as certain initiatives required more time for effective implementation due to overlapping federal and provincial reforms, as well as adjustments in financial projections following the depreciation of the Pakistani Rupee.

The updated schedule, they added, would ensure optimal utilization of available resources and allow the Finance Department to bring the project to a successful close by mid-2026.

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