Prime Minister Shahbaz Sharif has expressed deep appreciation to the World Bank on 23-01-2025 for pledging a substantial $20 billion under its 10-year Country Partnership Framework (CPF) to support Pakistan’s sustainable economic growth and inclusive development. This transformative framework focuses on human resource development, boosting private sector investment, climate-resilient infrastructure, and technology-driven solutions to accelerate development.
On Saturday, World Bank directors emphasis the importance of effective partner coordination among the World Bank Group, the IMF and other important development partners to continue supporting the implementation of reforms in Pakistan.
The World Bank’s financial assistance will target key sectors, including renewable energy projects like hydropower development, water resource management, and institutional reforms in critical organizations.Prime Minister Shehbaz Sharif underlined the importance of Pakistan’s long-standing collaboration with the World Bank and expressed his deeply gratitude to World Bank Vice President for South Asia, Martin Raiser.
The Prime Minister also highlighted advancements in the digitization of Federal Board of Revenue(FBR) including the implementation of a pilot project of faceless interaction between importers and custom officials at Karachi Port, which will soon be scaled nationwide. This initiative aims to enhance economic recovery, reduce tax evasion and corruption, and ensure effective allocation of resources for poverty alleviation, education reform, and community development.
This partnership with the World Bank positions Pakistan on a path to achieving sustainable development goals, improving living standards, and fostering economic resilience through innovation and targeted reforms.
Author: Hassan Ahmad
