World Bank’s $40 Billion Pledge to Pakistan
Prime Minister Shehbaz Sharif of Pakistan has welcomed the World Bank’s groundbreaking commitment of $40 billion under its first-ever 10-year Country Partnership Framework (CPF) for the nation. This significant pledge, announced on Wednesday, is set to play a pivotal role in shaping Pakistan’s economic future and addressing critical development challenges.
Key Focus Areas of the Investment
The $40 billion investment by the World Bank will be channeled towards supporting Pakistan’s development priorities, focusing on crucial areas such as clean energy, inclusive development, child nutrition, quality education, climate resilience, and private investment. Prime Minister Sharif underscored the alignment of these focus areas with Pakistan’s national priorities, emphasizing the country’s unwavering commitment to sustainable development and economic growth.
Sign of Confidence in Pakistan’s Potential
Expressing his appreciation for the collective efforts of Pakistan’s leadership, including Chief of Army Staff General Asim Munir, Prime Minister Sharif highlighted the transformative nature of this partnership with the World Bank. He noted that the CPF was a testament to the international community’s confidence in Pakistan’s economic resilience and potential for growth.
Expert Commentary on the Pledge
Economic correspondent Shahbaz Rana from The Express Tribune lauded Prime Minister Sharif’s successful efforts in securing international support for Pakistan’s economic growth. The sources within the Ministry of Economic Affairs highlighted that out of the total $40 billion pledged, $20 billion would be provided through the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD). Additionally, the International Finance Corporation (IFC) will contribute $20 billion to support the CPF, further bolstering Pakistan’s economic stability and growth goals.
This unprecedented commitment from the World Bank signifies a significant step towards fostering sustainable development and creating lasting opportunities for the people of Pakistan. Prime Minister Sharif’s leadership and dedication to securing international partnerships have laid a solid foundation for the nation’s economic transformation and growth.
