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Islamabad, The World Bank (WB) and the International Finance Corporation (IFC) have reaffirmed their commitment to support Pakistan’s development objectives and welfare projects aimed at benefiting the country’s population. This pledge of support was conveyed during a meeting with Pakistan’s Finance Minister Muhammad Aurangzeb, featuring notable delegates like WB Country Director Najy Benhassine and IFC Country Manager Zeeshan Ahmed Sheikh.
According to Ministry of Information and Broadcasting, the discussions between the finance minister and the representatives of the WB and IFC focused on collaborative development strategies and initiatives. These efforts are designed to promote economic growth, enhance financial stability, and foster sustainable development across Pakistan. The importance of strengthening the partnership with international financial institutions such as the IFC and WB was a key topic, underscoring the critical role these organizations play in the country’s progress.
Minister Aurangzeb emphasized the government’s dedication to fostering an environment conducive to private sector investment and the importance of transparency and accountability in financial dealings. The representatives from both WB and IFC praised the government’s reform efforts in economic and financial sectors. They acknowledged the steps taken to ensure sustained economic growth, including efforts to expand the tax base, restructure state-owned enterprises (SOEs), and move forward with privatization.
The meeting also provided an opportunity to explore potential areas of cooperation and investment opportunities in various sectors such as agriculture, the power sector, and information technology. These discussions aim to further align the goals of the WB and IFC with Pakistan’s development agendas, ensuring mutual benefits and progress.