Pakistan and World Bank Forge Ahead with Economic Reforms and Development Agenda

Islamabad, The World Bank has reaffirmed its commitment to assisting Pakistan in its ambitious economic transformation, with a focus on sustainable development, during a meeting with Prime Minister Shehbaz Sharif.

According to Ministry of Information and Broadcasting, the meeting, attended by the World Bank’s Regional Vice President for South Asia, Martin Raiser, and other delegates, set the stage for a new Country Partnership Framework that will guide the bilateral cooperation on Pakistan’s reform agenda. Prime Minister Sharif highlighted initiatives such as the digitization of tax systems, power sector reform, agricultural enhancements, and measures to combat child stunting.

The discussions laid out a plan for a long-term partnership under the new framework, with annual reviews to ensure progress and adaptability. The partnership aims to achieve significant developmental impacts across critical sectors including economic reforms, human capital development, energy sector transformation, and climate adaptation.

The preparation of the new framework will involve extensive consultations with various stakeholders, including federal and provincial governments, academia, civil society, and the private sector, to align with Pakistan’s key development priorities. The collaborative process was underscored by the signing of a joint communiqué by the World Bank’s Country Representative and the Secretary of Economic Affairs of Pakistan.