Shehbaz Sharif Meets World Bank Delegation, Highlights Key Development Projects and Economic Reforms
Key Meeting with WB Delegation Prime Minister Shehbaz Sharif met with a nine-member delegation from the World Bank’s Executive Directors on Monday, discussing key development projects and the country’s economic progress. The meeting focused on strengthening the partnership between Pakistan and the World Bank (WB), which has spanned over seven decades.
World Bank’s Support in Key Projects PM Shehbaz noted that Pakistan had greatly benefited from the World Bank’s assistance, particularly in completing crucial development projects. He also acknowledged the WB’s support in the aftermath of the 2022 floods, which had a significant impact on the country.
$40 Billion Investment Plan The Prime Minister highlighted the World Bank’s recent Country Partnership Framework, which includes a major investment of $40 billion in Pakistan. Of this, $20 billion will be allocated to projects in health, education, youth development, and social sectors, marking a new phase of progress for the country. An additional $20 billion will be invested in Pakistan’s private sector through the International Finance Corporation (IFC), aimed at boosting economic growth.
Rapid Economic Reforms Shehbaz Sharif also emphasized that Pakistan’s economic and institutional reforms are progressing quickly. The prime minister credited the hard work of the government’s economic team for the positive turn in the country’s economy. He highlighted that exports and remittances are rising, and the reduction in interest rates has encouraged investment in the production sector.
Government’s Focus on Transparency and Sustainability The prime minister reiterated that the government is working to ensure transparency and reduce corruption in all sectors. He stressed that sustainable economic growth will require continued effort, with particular focus on energy sector reforms, improving the power supply, and cutting losses.
Positive Feedback from World Bank Delegation The World Bank delegation praised Pakistan’s ongoing reforms, particularly in energy, industry, exports, and privatization. They noted that the government’s reform efforts are yielding promising results, with the country’s economic transformation moving at a rapid pace under PM Shehbaz’s leadership.
Strengthening Pakistan’s Investment Environment PM Shehbaz also pointed out the role of the Special Investment Facilitation Council (SIFC), which has been instrumental in creating an attractive environment for investment in Pakistan. He added that the government is prioritizing investments and partnerships over loans to ensure long-term economic stability.
Looking Ahead: Economic Growth and Reforms The Prime Minister concluded by stressing the importance of continuing reforms in key sectors and ensuring that Pakistan’s economy stays on the path to sustainable growth. The meeting was part of a broader discussion on Pakistan’s economic development and investment opportunities with the World Bank.