Pakistan, July 11 -- The World Bank's Board of Executive Directors approved $375.9 million in financing for Pakistan's Grid Stability Enhancement Project, to strengthen the country's national power transmission network under the Boosting Energy Security through Transmission in Pakistan (BEST-PAK) Multiphase Programmatic Approach (MPA).

The project is the first phase of a 10-year program to help Pakistan modernise its electricity transmission network, reduce power outages, and bring more clean energy to homes, businesses, and industries, read a statement.

"Pakistan's energy challenges are deeply interconnected with its broader economic stability," said Bolormaa Amgaabazar, World Bank Country Director for Pakistan.

"By investing in advan...