ISLAMABAD: The government is seeking additional financing of $19 million from the World Bank for the economic revitalisation of Khyber Pakhtunkhwa and the Federally Administered Tribal Areas (Fata) to lay the foundations for the future development of select economic sectors in the region.

A World Bank document said the government`s request for additional financing of the project was being processed. The project is supported entirely through the Multi Donor Trust Fund (MDTF) for KP, Fataand Balochistan and its activities cover all the districts of the KP province and all the agencies of Fata.

The project, which became effective in October 2011, was performing reasonably well in both KP and Fataand has provided tremendous support for creating jobs and rehabilitating the region`s economy.

Towards the end of 2016, the project has helped creation of 8,834 direct jobs by supporting more than 1,601 small and medium sized enterprises including private sector schools, medical units, and micro-hydro power generation plants.

The key economic sectors in KP are agriculture, minerals and extractives including gemstones, tourism, manuf acturing and textile weaving.

Under the additional financing, the project activities will be scaled up to provide matching grants to the enterprises in those Fataagencies Khyber Agency, Orakzai, North Waziristan and South Waziristan which are experiencing an influx of returning temporarily displaced persons (TDPs).-Staff ReporterISLAMABAD: The government is seeking additional financing of $19 million from the World Bank for the economic revitalisation of Khyber Pakhtunkhwa and the Federally Administered Tribal Areas (Fata) to lay the foundations for the future development of select economic sectors in the region.

A World Bank document said the government`s request for additional financing of the project was being processed. The project is supported entirely through the Multi Donor Trust Fund (MDTF) for KP, Fataand Balochistan and its activities cover all the districts of the KP province and all the agencies of Fata.

The project, which became effective in October 2011, was performing reasonably well in both KP and Fataand has provided tremendous support for creating jobs and rehabilitating the region`s economy.

Towards the end of 2016, the project has helped creation of 8,834 direct jobs by supporting more than 1,601 small and medium sized enterprises including private sector schools, medical units, and micro-hydro power generation plants.

The key economic sectors in KP are agriculture, minerals and extractives including gemstones, tourism, manuf acturing and textile weaving.

Under the additional financing, the project activities will be scaled up to provide matching grants to the enterprises in those Fataagencies Khyber Agency, Orakzai, North Waziristan and South Waziristan which are experiencing an influx of returning temporarily displaced persons (TDPs).-Staff Reporter