ISLAMABAD – Prime Minister of Pakistan Shehbaz Sharif interacted with the Executive Directors of World Bank as two sides focused on reviewing the implementation of a $40 billion funding agreement aimed at accelerating economic transformation.
During the interaction, the premier emphasized long-standing ties between Islamabad and the World Bank, which spanned over seven decades. PM Sharif further highlighted the key role of the World Bank which played supporting key national development and reconstruction projects.
Prime Minister also commended World Bank’s recent Country Partnership Framework, which includes $40 billion investment in South Asian nation. He further revealed that $20 billion of funding will be allocated to projects in health, education, youth development, and other social sectors. The remaining part will be invested in private sector under the International Finance Corporation (IFC).
World Bank officials were lauded to having confidence in government’s policies as PM underscored incumbent government’s commitment to implementing reforms. He further informed the delegation that work on digitizing the Federal Board of Revenue (FBR) is progressing rapidly, aiming to control inflation.
PM Shehabaz also highlighted ongoing reforms in the power sector, which are improving the reliability of electricity supply while reducing the financial deficit.
This crucial meeting is expected to strengthen Pakistan’s ties with the World Bank and bring substantial investments to support the country’s economic and social growth.
World Bank executive directors arrive in Pakistan after 20-year hiatus
