World Bank agrees to work with Pakistan under new CPF

Pakistan and the World Bank have agreed to work together for the country’s reform and development agenda under the New Country Partnership Framework (CPF).

The agreement was signed during the meeting of Prime Minister Shehbaz Sharif and a World Bank delegation led by its Regional Vice President of South Asia, Martin Raiser.

The premier appreciated the World Bank’s support in the development of Pakistan, especially building climate-resilient infrastructure following the devastating flood of 2022.

The discussion centred on crucial areas such as economic reforms, human capital development, climate change adaptation, energy sector restructuring, digitisation of the entire system, improvement in the power sector, enhancing pre-acre yields in the agriculture sector and addressing the child stunting challenge.

However, VP Martin Raiser expressed readiness to collaborate with Pakistan in its journey towards transformation of the economy and achieving sustainable development.

Both sides agreed to a long-term partnership under the new CPF with an annual review mechanism for assessing result-oriented progress.

Alongside the other key government officials, Federal Minister for Economic Affairs Ahad Khan Cheema also attended the meeting and discussed a range of issues relating to Pakistan’s economic growth.

Cheema expressed gratitude for ongoing support and assistance from the World Bank to Pakistan. 

In return, the delegation also assured the Minister of full support in exploring new financial solutions to align with Pakistan’s development priorities.