The World Bank technical team visited the National Bank of Pakistan (NBP) Head Office in Karachi to discuss the dynamics of Pakistan’s financial sectors, particularly the development finance landscape and the role NBP can play in this area.
The World Bank Group is conducting this analysis on the request of the Ministry of Finance and the State Bank of Pakistan, says a press release received here on Wednesday.
The World Bank Group plays a critical role in advancing development finance in Pakistan since it can leverage its financial sector expertise by holding country engagement and dialogue, financing and risk-sharing instruments, unique datasets and research capacity, and influence with standard-setting bodies.
Lead Financial Sector Specialist Marius Vismantas and Senior Financial Sector Specialist Namoos Zaheer met SEVP/Group Chief, Inclusive Development Group Rehmat Ali Hasnie and SEVP/Group Chief, Strategy & Development Analytics Group Faisal Ahmed Topra and discussed various initiatives planned by NBP for development finance and priority sectors including agriculture, SME, Housing and Microfinance.
Rehmat Ali Hasnie informed the representatives on NBP’s initiative to reposition itself and increase its market penetration and growth in the priority sectors of the economy.
The World Bank team appreciated the renewed focus of NBP and assured of its support for further development of these sectors that are essential contributors to Pakistan’s economy.