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Cabinet officials

World Bank Deepens Engagement with Pakistan on Key Reforms and Sustainable Development

Strategic Insights

— 2 min read

A high-level meeting between Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and a senior World Bank delegation led by Ms Anna Bjerde, Managing Director for Operations at the World Bank, focused on deepening bilateral cooperation and accelerating the implementation of the newly launched 10-year Country Partnership Framework (CPF). The meeting aimed to strengthen Pakistan's economy through reforms in taxation, energy, and social protection. Ms Bjerde commended the government of Pakistan for its continued commitment to difficult reforms and praised its dedication to sustaining reform momentum in challenging circumstances.

Key Takeaways:

  • The World Bank has expressed its willingness to deepen its engagement across key reform areas, including taxation, energy, and social protection, to strengthen Pakistan's economy.
  • The meeting between Minister Aurangzeb and Ms Bjerde focused on the implementation of the 10-year Country Partnership Framework (CPF), with particular emphasis on climate resilience and population management.
  • Minister Aurangzeb reaffirmed the government of Pakistan's strong commitment to the CPF and requested the World Bank to provide technical leadership and assistance to streamline processes and ensure a prioritized and focused rollout of the CPF.
  • Ms Bjerde assured the World Bank's full support for Pakistan in achieving the objectives of the CPF, emphasizing particular support for initiatives aimed at girls' education and women empowerment.
  • The meeting concluded with a mutual commitment to work closely in the coming months to operationalize the CPF and build a stronger, more resilient partnership for Pakistan's sustainable development.
  • The World Bank has committed to provide technical assistance to streamline processes and ensure a prioritized and focused rollout of the CPF, with a particular focus on social protection graduation programs for provincial governments.
  • The meeting highlighted the need to explore options and innovative approaches to reduce the cost of energy generation and make it more competitive and affordable for the people.

Statistics:

  • The World Bank's financing portfolio in Pakistan will be reviewed and accelerated implementation of the CPF will be expedited.
  • The CPF has identified six foundational pillars, including climate resilience and population management, which will be given particular focus.
  • The government of Pakistan has committed to implement the CPF with full coordination across key ministries and stakeholders.
  • The World Bank has committed to provide technical assistance to streamline processes and ensure a prioritized and focused rollout of the CPF.
  • The government of Pakistan has requested the World Bank to focus on social protection graduation programs for provincial governments and reduce the cost of energy generation.

Sources:

  • World Bank delegation led by Ms Anna Bjerde, Managing Director for Operations
  • Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb
  • Minister for Economic Affairs Ahad Cheema
  • Najy Benhassine, outgoing Country Director for Pakistan
  • World Bank Country Partnership Framework (CPF) for Pakistan

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