PM Announces $20 Billion World Bank Collaboration
In a momentous occasion, Prime Minister Shehbaz Sharif unveiled the World Bank’s Country Partnership Framework (CPF) for Pakistan, a monumental 10-year, $20 billion initiative designed to revolutionize the nation’s economy. The announcement was made during a grand ceremony in Islamabad on Thursday, marking a significant milestone in Pakistan’s economic landscape.
Historic Partnership for Economic Transformation
During his speech at the launch event, PM Shehbaz described the collaboration as a historic day for Pakistan, underscoring the World Bank’s unwavering confidence in the country’s economic prospects. He highlighted the critical role played by the World Bank in supporting Pakistan over the years, emphasizing key projects in areas such as hydel power generation, water sector reform, and organizational development.
Priority Areas and Gratitude
The CPF is structured around six key focus areas: child nutrition, quality education, clean energy, climate resilience, inclusive development, and private sector growth. Prime Minister Shehbaz expressed his profound appreciation to the World Bank team, particularly President Ajay Banga and Vice President Martin Raiser, for their innovative approach and commitment to Pakistan’s progress.
Minister’s Commendation and Future Prospects
Economic Affairs Minister Ahad Khan Cheema also lauded the World Bank’s pivotal role in driving Pakistan’s development forward. He emphasized that the $20 billion investment over the next decade signifies the Bank’s firm belief in Pakistan’s potential. The partnership aims to tackle some of Pakistan’s most urgent challenges, including poverty, unemployment, and climate change.
Promoting Economic Growth through Innovation
With the World Bank’s support, Pakistan is gearing up to leverage digitization, agriculture, and IT-led initiatives to foster economic growth and prosperity. The collaborative efforts between Pakistan and the World Bank are poised to bring about transformative changes that will benefit the nation for years to come.
