PM meets World Bank president, apprises him of Pakistan's reform measures

NEW YORK: Prime Minister Shehbaz Sharif on Wednesday lauded the World Bank’s unprecedented $40 billion commitment to Pakistan under the new Country Partnership Framework (2026–2035) and reaffirmed his government’s commitment to ensuring its effective implementation in close coordination with provincial governments.

The prime minister, in a meeting with President of the World Bank Group (WBG) Ajay Banga, on the sidelines of the 80th Session of the United Nations General Assembly, apprised him of the government’s comprehensive reform agenda, encompassing resource mobilization, energy sector reforms, privatization and measures to build resilience against climate change.

He emphasized that these reforms have helped steer Pakistan toward macroeconomic stabilization, restored investor confidence, and fostered sustainable and inclusive growth.

Prime Minister Sharif also commended Banga’s leadership in transforming the World Bank into a faster, more efficient, and impactful development partner, with a renewed focus on simplifying operations and mobilizing private sector resources. He praised the Bank’s continued support for Pakistan, particularly during the COVID-19 pandemic and the catastrophic 2022 floods.

The World Bank president appreciated the reform measures being undertaken by Pakistan and reaffirmed the Bank’s commitment to Pakistan’s development agenda.

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He emphasized the Bank’s readiness to extend continued support for advancing economic reforms and undertaking long-term initiatives on climate resilience under the new CPF.

Both sides reiterated their resolve to further strengthen cooperation under the Country Partnership Framework in order to advance Pakistan’s development priorities.