ISLAMABAD: A high-level delegation comprising executive directors of the World Bank has arrived in Pakistan.
As per the media report, the delegation’s visit will focus on the country’s economic development projects, investment opportunities, and the effective implementation of the recently approved 10-year Country Partnership Framework (CPF).
Private media quoted sources as saying that the delegation is scheduled to meet with Prime Minister Shehbaz Sharif, Finance Minister Ishaq Dar, the Minister for Economic Affairs, the Federal Minister for Planning, and the Minister for Energy, among other senior government officials.
Last month, the World Bank approved a $20 billion Country Partnership Framework for Pakistan, which is planned to be increased to $40 billion in the future. These funds will be used for the country’s economic development, mitigating the effects of climate change, and improving social sectors.
The CPF will focus on six key development areas, including reducing child stunting, addressing the impacts of climate change, increasing tax revenue to more than 15 percent of GDP, adding 10 gigawatts of renewable energy capacity, providing quality education to 12 million students, and ensuring access to healthcare for 500 million people.
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Additionally, the CPF aims to provide clean water and sanitation to 60 million people, strengthen food security for 30 million people, and ensure access to contraceptives for 30 million women. According to sources, 75 million people will benefit from this framework.
The World Bank delegation will also meet representatives from Khyber Pakhtunkhwa, Sindh, Punjab, and Balochistan in Islamabad.
The visits are aimed at assessing local development challenges and identifying opportunities to promote sustainable economic growth in each region of the country. The delegation will also interact with representatives of the business community, educators, and civil society.
The World Bank’s goals include improving Pakistan’s economic stability, mitigating the effects of climate change, and enhancing social sectors. The delegation aims to provide Pakistan with new opportunities for economic development through a $40 billion investment in the coming decade.
According to the report, this visit by the World Bank is a significant opportunity for Pakistan, as it will help open new avenues for economic and social development on a global scale. The implementation of the funds and proposals provided by the delegation will enable crucial steps to be taken to stabilize Pakistan’s economy and improve the lives of its people.
This visit marks an important step toward strengthening the long-term partnership between Pakistan and the World Bank, the positive outcomes of which will be seen in the coming years.
