WASHINGTON: Finance Minister Muhammad Aurangzeb held a meeting with Jorge Familiar Calderon of the World Bank Group, where both sides engaged in a comprehensive discussion on debt management, financial resilience, and the development of capital markets.
At the outset, the finance minister congratulated Calderon on his recent appointment and expressed confidence in his leadership. He underscored the pivotal role played by the World Bank Group’s treasury in supporting developing economies, particularly in providing expert advisory services related to access to global capital markets, financial innovation, and effective debt and risk management frameworks.
Aurangzeb highlighted Pakistan’s evolving and diversified financial strategy, noting that the government is actively working to broaden its financing base. He emphasized the increasing use of innovative instruments such as Sukuk and ESG-linked financing mechanisms, which are being explored to attract sustainable and responsible investment.
He also pointed to ongoing reforms aimed at strengthening the domestic bond market and improving integration with international financial systems.
The finance minister further elaborated on Pakistan’s commitment to enhancing institutional capacity, particularly within the Debt Management Office.
He requested technical assistance from the World Bank, including access to advanced analytical tools, capacity-building programs, and specialized training to improve debt sustainability analysis and financial planning.
In addition, he announced that a dedicated focal person would be appointed within the Ministry of Finance to ensure effective coordination and implementation of joint initiatives and programs with the World Bank Group.
The meeting reflects Pakistan’s proactive engagement with leading global financial institutions and highlights its broader efforts to strengthen fiscal discipline, modernize financial infrastructure, and build a more resilient and sustainable economic framework in an increasingly complex global economic environment.
