World Bank, ADB Pledge Support for Pakistan’s Economic Reforms

Washington D.C, In a series of high-level meetings, the World Bank and the Asian Development Bank (ADB) have committed to support Pakistan’s economic reforms and digitalization initiatives aimed at stabilizing its economy and increasing revenues. This commitment was reinforced during discussions between Pakistan’s Finance Minister Muhammad Aurangzeb and the World Bank Group President Ajay Banga, as well as with ADB President Masatsugu Asakawa.

According to Ministry of Information and Broadcasting, the meetings underscored a shared agenda to bolster Pakistan’s financial stability through a Country Framework Plan set to roll out over the next ten years. The Finance Minister detailed progress under Pakistan’s nine-month Stand-By Arrangement program, highlighting ongoing reforms in key sectors such as taxation, energy, and privatization.

During the engagements, Banga reiterated the World Bank’s commitment to supporting Pakistan’s reformative measures. Aurangzeb also extended an invitation to the World Bank President to visit Pakistan, signifying a continued partnership.

In parallel talks with ADB’s Asakawa, the focus was on strengthening bilateral ties and safeguarding Pakistan’s access to concessional financing. Discussions also covered the future projects pipeline, emphasizing the ADB’s role in the sustainable development of Pakistan’s economy.