FLASHNEWS:

World Bank Plans $78 Million Investment in Pakistan’s Digital Economy

Islamabad, The World Bank is poised to evaluate a substantial $78 million initiative titled "Pakistan: Digital Economy Enhancement Project (DEEP)," targeting the augmentation of Pakistan's capabilities in delivering digital public services. This strategic investment is aimed at narrowing the digital divide and enhancing the nation's digital infrastructure and governance.

According to Zameen.Com, the DEEP project is designed to facilitate broader access to digital services, including vital broadband connectivity, thereby supporting Pakistan's transition to a more inclusive and efficient digital economy. The initiative will back pivotal reforms to amplify broadband infrastructure and refine the legal framework underpinning the digital economy.

Key Pakistani institutions such as the Ministry of Information Technology and Telecommunication (MoITT), the National Database and Registration Authority (NADRA), and the Board of Investment (BoI) will benefit from technical assistance through DEEP. Moreover, the project envisions the establishment of secure channels for information exchange among government entities and the introduction of a digital 'wallet' system for citizens, aiming to streamline interactions with public services.

DEEP encompasses three primary objectives: enhancing the digital economy, governance, and service delivery framework; creating a comprehensive Pakistan Business Portal to facilitate business operations; and effective project management to ensure the successful execution of these objectives.

Despite notable progress in digital initiatives, Pakistan faces challenges in digital infrastructure, government service provision, and the overall environment of the digital economy. DEEP seeks to bridge these gaps, fostering an ecosystem that supports sustainable and inclusive digital development across the country.