World Bank reaffirms help for development

ISLAMABAD: World Bank Vice-President for South Asia Martin Raiser concluded his three-day visit to Pakistan on Wednesday and reaffirmed the bank’s readiness to collaborate with Pakistan in its journey of economic transformation aimed at sustainable development.

During his stay, Mr Raiser met with Prime Minister Shehbaz Sharif, members of his government, and key counterparts to discuss Pakistan’s development priorities.

The discussions focused on economic and fiscal reforms, human capital development, adaptation to climate change, energy sector reforms, and digitalisation as a foundational enabler and accelerator of development.

“I am pleased to learn about Pakistan’s reform plans to boost growth and attract more private investment, leverage digital transformation to improve governance, strengthen climate resilience, and invest in human capital to tackle daunting challenges such as child stunting and learning poverty,” said Raiser in a statement issued by World Bank Islamabad office.

On Wednesday, PM Shehbaz witnessed the signing of a joint communiqué signed by World Bank Country Representative Najy Benhassine and Secretary of Economic Affairs Dr Kazim Niaz.

PM Shehbaz lauded the World Bank’s contribution to Pakistan’s development and appreciated the bank’s support for building climate-resilient infrastructure in the wake of the 2022 floods in Pakistan.

Appreciating Pakistan’s aggressive reform agenda, Mr Raiser said the World Bank is ready to collaborate with Pakistan in its journey of economic transformation aimed at sustainable development.

Both sides agreed to engage in a long-term, focused partnership under a new Country Partnership Framework with an annual review mechanism to assess progress and ensure results are achieved.

Published in Dawn, May 9th, 2024