A high-level delegation of nine World Bank Executive Directors has arrived in Pakistan for the first time in two decades, signaling a renewed focus on the country’s economic development. The delegation will meet with key government officials, including the Prime Minister, Finance Minister, and Ministers for Planning, Energy, and Economic Affairs, to discuss the effective implementation of a significant $40 billion funding initiative.
This visit aims to evaluate and strategize the successful implementation of the Country Partnership Framework, a roadmap for Pakistan’s developmental goals. The delegation will also tour various provinces, including Khyber Pakhtunkhwa, Sindh, Punjab, and Balochistan, to assess existing developmental projects and formulate further strategies to improve the country’s overall growth.
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In a recent statement, World Bank Vice President for South Asia, Martin Raiser, highlighted concerns about Pakistan’s financial needs. While the $20 billion allocated through the Country Partnership Framework is substantial, it may not be enough to meet the country’s ambitious long-term goals. Raiser emphasized that Pakistan must focus on mobilizing additional resources, including attracting private sector investment, to overcome its significant challenges.
As Pakistan prepares for negotiations with the International Monetary Fund (IMF) to secure an additional $1.5 billion loan, the country’s economic future hinges on both international aid and its internal strategies for addressing pressing issues, such as climate change and human capital development.
