 Leading South Asian countries are realizing the key importance of social sector development for economic progress. South Asia is home to more than one fourth of the world population and has tremendous potential to become an economic engine for the rest of the world. Three major developing economies are on the rise in this region at different scales: India being the largest country is on the top and the other two are Sri Lanka and Pakistan.
Despite their promising potential, all three countries have remained negligent in social sector reforms and are now facing daunting challenges on this front. They are desperately trying for an economic uplift so that the people can benefit in the long run. The developing phase of these countries make them more vulnerable to global challenges like economic crisis and international competition and require financial assistance in their discourse of social reforms.
In 2008, World Bank approved a number of projects for South Asia and almost all of these focused on social sectors like education, healthcare, poverty alleviation, and agriculture. World Bank approved 14 projects in Bangladesh with a total value of US$ 1.69 billion. India - the largest economy and country in South Asia is also assisted by the World Bank to help develop in various sectors. During 2008, World Bank approved financing for seven projects in India worth $ 10.35 billion. These include long and medium term projects and are in the finishing process.
Pakistan has also benefited from the World Bank assistance and has several programmes running in different sectors. In the last year, the World Bank approved projects for poverty alleviation, education, agriculture and healthcare to meet MDGs in the country. The total value of World Bank assistance approved during the last year for Pakistan was US $25 million.
Recovery and Restoration Sector
Four projects were related to flood and cyclone recovery and rehabilitation in Bangladesh, amounting to $ 314 million. The most important of these was Emergency 2007 Cyclone Recovery and Restoration Project with a net debt of $ 109 million. This programme was aimed to facilitate recovery from the damage to infrastructure caused by Cyclone Sidr in 2007 in Bangladesh and to build long-term awareness by reinforcing disaster management and risk reduction.
Water Sector
In the water of Bangladesh, World Bank approved projects worth $ 755 million. The Dhaka Water Supply and Sanitation Project worth $ 165 million is in the pipeline with the assistance of World Bank to ensure supply of safe drinking water in the capital Dhaka.
In Pakistan, the Baluchistan Small Scale Irrigation Project (BSSIP) is a collaborative programme which was approved in 2008. It seeks to improve water availability for multiple water based projects in Baluchistan for agriculture, fishing, and forestry and will be supervised by Baluchistan Irrigation and Power Secretary. This is an area specific project targeted at water scarce area of Pishin Lora Basin (PLB). BSSIP will strengthen provincial water management capabilities and will focus on partial restoration of water storage capacity; developing small-scale irrigation schemes in the PLB; and finally strengthening and building the capacity of the Irrigation and Power Department for water management institutions, farmers and community organizations, and for implementing studies.
Water Sector Capacity Building and Advisory Services Project is another project in water and power sector in Pakistan focused on improving management and investment planning of water resources in the Indus River Basin. This is a critical project for Pakistani institutes to devise plans for capacity building by bringing investment for water based projects on Indus and tributary rivers. One major aspect of the project is to build human resources and institutional capacity in the federal institutions. World Bank is providing assistance of $ 38 million for this project.
Power Sector
The Siddhirganj Peaking Power Project which will contribute in increasing the power supply during peri ods of peak demand in Bangladesh by strengthening three distribution agencies is funded by the World Bank.
Power System Development Project IV is the next major project that the World Bank approved to finance in 2008 for the Government of India. World Bank approved $ 2.14 million for this massive project which is the fourth project in Indian power sector supported by World Bank. The objective of the project is to strengthen India’s electricity transmission system in order to increase reliable power exchange between regions and states.
World Bank also approved $ 257 million for an Electricity Distribution and Transmission Improvement Project in Pakistan. This major power sector project focuses on enhancing the capacity of power distribution companies in Hyderabad, Lahore, Islamabad and Multan and will provide the needed assistance.
World Bank will also provide assistance in key areas in this connection such as strengthening transmission network, capacity building of distribution companies for energy reforms, upgrading transmission grids, and promoting energy saving equipment installation. The project will have far reaching economic and social effects on small to medium industries and homes.
Lahore Compositing, a project worth $5 million is a major project in areas of water, sanitation, flood protection and solid waste management in the Lahore city. It is targeted towards social upliftment of under developed areas in Lahore and will contribute in healthcare development.
Education Sector
 The Second Elementary Education Project is the largest programme in India for which World Bank approved a massive assistance of $ 7.187 billion. This long term project, which will end in 2010 aims to significantly increase the number school going children in India and ensure they are regularly enrolled, attend and complete elementary school and demonstrate basic learning levels. To achieve the target, India, has formulated a quality enhancement framework to properly regulate the financial assistance of the World Bank.
World Bank also provided financial assistance to the National University of Science and Technology (NUST) in Pakistan for its Technology Incubation center to enhance the University’s R&D in different engineering disciplines. This will help in establishing industry in the country.
Health Sector
In the health sector of India, World Bank approved $ 521million for the National Vector Borne Disease Control & Polio Eradication Support Project. Goal of the project is to enhance responsiveness of the government for controlling Malaria, eliminating Kala azar, and eradicating Polio. The project will help Indian national health institutes in policy and strategy formulation for programme management, capacity building and monitoring. In addition, Polio vaccine availability will be improved. To control Malaria and to eliminate Kala azar, the programme will focus on case management, disease surveillance and vector control.
Infrastructure Development
For infrastructure development in India, the Bank is financing the India Orissa State Roads Project in Orissa by providing $ 322 million. The project is aimed to improve the roads in th e area thereby providing easy access to the residents help in attracting tourists by facilitating them with safe and swift road infrastructures. Farmers will also benefit by reduced time to take goods from farms to the market.
Poverty Alleviation
Another programme initiated from the financial assistance of the World Bank, the 90.5 million dollar Orissa Rural Livelihoods Project focuses primarily on improving living conditions of the poorest in selected areas of Orissa, India. The Programme focuses on initiating projects and building small institutions at the Self Help Group level to give trainings in projects planning, management and execution to eradicate poverty.
World Bank has initiated several such projects in all the countries of South Asia. The financial assistance it provides is aimed to help the developing countries of the region to work towards the social sectors of the respective countries and gear them towards development. World Bank is a proud partner in the fight against social sector challenges including poverty, healthcare, education, gender equality and social injustice t hereby helping the countries to achieve their Millennium Development Goals (MDGs) 2015. 
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