Prime Minister Shehbaz Sharif has welcomed the World Bank’s $20 billion commitment under its first-ever 10-year Country Partnership Framework (CPF) for Pakistan.
The pledge, announced on Wednesday, is aimed at supporting Pakistan’s development priorities and is in line with the country’s home-grown economic transformation plan.
In a post on his official social media account, the Prime Minister highlighted that the CPF focuses on six critical areas: child nutrition, quality education, clean energy, climate resilience, inclusive development and private investment. He noted that these focus areas align with Pakistan’s national priorities, underscoring the country’s commitment to sustainable development.
Photo: X
Prime Minister Sharif expressed his appreciation for the collective efforts of Pakistan’s leadership, especially Chief of Army Staff General Asim Munir, and other colleagues who have worked tirelessly to lay the foundation for such a transformative partnership. He emphasized that the CPF was a testament to the World Bank’s confidence in Pakistan’s economic resilience and potential.
“The CPF reflects the World Bank’s confidence in Pakistan’s economic resilience and potential. We look forward to strengthening our partnership as we align our efforts to create lasting opportunities for our people,” the Prime Minister said.
The $20 billion commitment will be critical to addressing the country’s development challenges, supporting immediate and long-term economic stability and growth goals.
World Bank pledges $40 billion to Pakistan
The World Bank has pledged $40 billion to Pakistan under the 10-year Country Partnership Framework (CPF), according to sources in the Ministry of Economy.
Interestingly, Shahbaz Rana, an economic correspondent at The Express Pakinomist, broke the news on January 4 while quoting a key Pakistani official.
The sources termed the commitment as a testament to Prime Minister Shehbaz Sharif’s successful efforts to secure international support for Pakistan’s economic growth, adding that the joint efforts of the Prime Minister and Army Chief General Asim Munir have begun to yield results.
Out of the total $40 billion, $20 billion would be provided through the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD).
The CPF will focus on six key development areas, including reducing child stunting, mitigating climate change, improving learning outcomes, providing clean water and promoting public resources and private investment for comprehensive development.
The International Finance Corporation (IFC) will also provide financing of $20 billion to support the CPF.
