Prime Minister Shehbaz Sharif launched the World Bank’s Country Partnership Framework (CPF) for Pakistan, a 10-year, $20 billion program aimed at transforming the country’s economy.
Speaking at the launch ceremony in Islamabad on Thursday, Prime Minister Shehbaz hailed the partnership as a “great day in Pakistan’s history” and a testament to the World Bank’s confidence in the country’s economic resilience.
He acknowledged the World Bank’s long-standing support to Pakistan, citing key projects in hydel power generation, water sector reform and organizational development.
The CPF focuses on six priority areas: child nutrition, quality education, clean energy, climate resilience, inclusive development and growth in the private sector. The Prime Minister expressed gratitude to the World Bank team, especially President Ajay Banga and Vice President Martin Raiser, for their innovative programme.
Finance Minister Ahad Khan Cheema also praised the World Bank’s role in Pakistan’s development and noted that the $20 billion commitment over the next decade shows the bank’s confidence in Pakistan.
The partnership aims to address Pakistan’s pressing challenges, including poverty, unemployment and climate change. With the World Bank’s support, Pakistan is seeking to promote digitalisation, agriculture and IT-led initiatives to drive economic growth.
