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World Bank hails Pakistan’s efforts against Covid-19 challenge

ISLAMABAD: A high-level Pakistan delegation, led by Federal Minister for Economic Affairs Khusro Bakhtiar, held two consecutive sideline virtual meetings with the senior management of World Bank Group convened at the margins of 2020-Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.

At the onset, Hartwig Schafer, Vice President of World Bank Group for South Asia Region, appreciated Pakistan’s efforts to successfully combat and curtail the impact of the COVID-19 pandemic.

He also appreciated the government’s ongoing reform efforts, particularly in the power, governance and financial sectors, that would possibly allow Pakistan to unleash the growth potential and help a faster post-COVID-19 recovery.

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The vice president confirmed WB’s continuous support to the government of Pakistan at this difficult time. The two sides also discussed the performance of the WB ongoing portfolio in Pakistan besides the probable WB initiatives in the near future.

Bakhtiar, while appreciating the WB continuous support to Pakistan, assured the world bank delegation that the government is committed to continuing structural reforms in multiple areas of economy, governance.

The economic affairs minister also appreciated the WBG’s proposed US$12 billion initiative to help developing countries procure COVID-19 vaccines to treat up to 1 billion people as soon as effective drugs become available. The World Bank Vice President Hartwig assured due support to Pakistan under this initiative.

Khusro Bakhtiar during his meeting discussions with Mr. Alfonso Garcia, Regional Vice President of IFC for Asia & the Pacific, appreciated the IFC initiatives in Pakistan. IFC official, while appreciating the government’s ongoing reforms efforts, accepted the invitation of Khusro Bakhtiar to visit Pakistan in the coming months to explore avenues to further enhance the IFC interventions in Pakistan.



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