A delegation of nine World Bank Executive Directors has arrived in Pakistan, marking the first visit of its kind in 20 years. The delegation is set to meet with key government officials, including the Prime Minister, Finance Minister, and Ministers for Planning, Energy, and Economic Affairs, to discuss the implementation of $40 billion in development funding. A major focus of the discussions will be on the effective execution of the Country Partnership Framework (CPF), a plan outlining Pakistan’s development goals over the next decade.
During their stay, the delegation will also tour the provinces of Khyber Pakhtunkhwa, Sindh, Punjab, and Balochistan to review ongoing development projects and shape future strategies. The goal is to ensure that the World Bank’s financial assistance is used effectively to address Pakistan’s key challenges, including economic growth and human capital development.
Also Read: Pakistan and World Bank Launch $20 Billion Country Partnership Framework
The visit follows recent comments from World Bank Vice President for South Asia, Martin Raiser, who emphasized that the $20 billion lending framework alone would not be enough to achieve Pakistan’s ambitious goals for the next 10 years. He stressed the importance of attracting private investment to overcome Pakistan’s financial gaps and improve its business environment.
In addition to the World Bank’s efforts, Pakistan is preparing to negotiate another $1.5 billion loan from the International Monetary Fund (IMF) later this month. Two IMF delegations are expected to visit the country to discuss the new loan as well as the next tranche of the ongoing $7 billion loan programme. The new loan will reportedly focus on addressing the impacts of climate change in Pakistan, as the nation grapples with financing its recovery efforts.
