Prime Minister Shehbaz Sharif unveiled the World Bank’s Country Partnership Framework (CPF) for Pakistan, a 10-year initiative valued at $20 billion, aimed at revitalizing the nation’s economy.
During the ceremony in Islamabad on Thursday, PM Shehbaz called the launch a “historic day for Pakistan,” emphasizing it as a strong endorsement of the country’s economic potential by the World Bank.
He praised the World Bank’s ongoing support, highlighting past collaborations in hydropower projects, water sector reforms, and institutional development.
The CPF prioritizes six key areas: child nutrition, quality education, clean energy, climate resilience, inclusive development, and fostering private sector growth. PM Shehbaz expressed his appreciation for the World Bank team, especially President Ajay Banga and Vice President Martin Raiser, for crafting this forward-thinking programme.
Economic Affairs Minister Ahad Khan Cheema also lauded the World Bank’s contribution to Pakistan’s growth, pointing out that the $20 billion commitment over the next decade demonstrates the Bank’s trust in Pakistan’s future.
The partnership aims to tackle Pakistan’s critical issues, such as poverty, unemployment, and climate change. With the World Bank’s backing, the country plans to advance digitization, agricultural development, and IT-led projects to spur economic progress.
