ISLAMABAD: Prime Minister Shehbaz Sharif has welcomed World Bank’s investment of $40 billion in Pakistan saying that $20 billion of it will be spent on development projects in health, education, youth development and social sectors.
A delegation of executive directors of the World Bank Group met Prime Minister Sharif. Nine executive directors of the World Bank have visited Pakistan fir the first time in about three decades.
The Prime Minister welcomed the delegation to Pakistan and said that the partnership of the World Bank and Pakistan had spanned over the last seven decades.
He said that Pakistan benefited from the partnership with the World Bank, which fully supported the affected people in Pakistan during the 2022 floods, under the Country Partnership Framework.
The Prime Minister further said that the World Bank was satisfied with policies of the government. Pakistan’s institutional and economic reform program is progressing rapidly, he said, adding the country’s economy is moving in the right direction and development. There is still a long way to go for the sustainable development of the country’s economy.
He said that Pakistan’s exports and remittances are increasing along with the investment in the productive due to low interest rates. Moreover, transparency is being ensured in the system to control corruption and work on digitization is being done on a priority basis in the FBR reforms.
The delegation appreciated the implementation of Pakistan’s ongoing reform program and said that Pakistan’s economic reform journey is progressing rapidly under the leadership of the Prime Minister.
The World Bank delegation appreciated the reform initiatives in the areas of energy, industry and exports, privatization, tariffs, etc.
