Islamabad: The Government of Pakistan and the World Bank have reaffirmed their mutual commitment to fortifying Pakistan’s economic resilience and promoting inclusive development through strategic partnerships.
According to Radio Pakistan, this commitment was articulated during a meeting between Finance Minister Muhammad Aurangzeb and the World Bank Pakistan team in Islamabad on Friday. The World Bank delegation included Najy Benhassine, the outgoing Country Director, and Bolormaa Amgaabazar, the incoming Country Director for Pakistan.
During the meeting, Finance Minister Aurangzeb extended a warm welcome to Bolormaa Amgaabazar, expressing optimism about the continued collaboration between Pakistan and the World Bank under her stewardship. He also commended Najy Benhassine for his significant contributions and support to the Government of Pakistan during his tenure, acknowledging his role in strengthening the development partnership and wishing him well in his future endeavors.
The Minister emphasized the enduring relationship with the World Bank and expressed gratitude for its financial and technical assistance in key economic sectors. He highlighted the importance of the recently signed 10-year Country Partnership Framework (CPF), which he described as a crucial component of Pakistan’s economic strategy, with the potential to transform critical sectors through strategic implementation.
Aurangzeb also stressed the importance of executing the CPF’s Country Financing Framework (CFF) to fully leverage the World Bank’s support. He praised the institutional, technical, and financial backing consistently provided by the Bank.
Furthermore, the Minister noted the successful completion of the International Monetary Fund review and subsequent disbursement of one billion dollars under the Extended Fund Facility, along with additional resources from the Resilience and Sustainability Facility. He underscored that development finance should be merit-based and free from political considerations to ensure sustainable progress.