PM Shehbaz lauds WB’s role in Pakistan’s economic, climate goals

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif expressed gratitude to the World Bank for its support for Pakistan’s rightful stance in response to India’s unilateral and unlawful actions that violate key international agreements, including the Indus Waters Treaty.

In a meeting with Ousmane Dione, the World Bank’s Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan, PM Shehbaz reaffirmed Pakistan’s dedication to adhering to international law, fostering prosperity, and promoting regional peace.

The prime minister underscored Pakistan’s commitment to resolving disputes through dialogue.

PM Shehbaz was also appreciative of the strategic role of the Country Partnership Framework in supporting Pakistan’s development priorities, especially in the sectors of energy, human development, climate change and governance reforms.

The prime minister expressed his gratitude for the World Bank’s timely and generous support during the devastating floods of 2022, which enabled Pakistan to initiate immediate relief efforts as well as reconstruction and rehabilitation activities.

The World Bank’s Regional Vice President reaffirmed commitment to strengthening and expanding longstanding partnership with Pakistan and supporting key sectors of the economy.

He commended Pakistan’s ongoing macroeconomic recovery and lauded the government’s efforts to lead the country toward financial stability and sustainable development.

At the conclusion of the meeting, they expressed a joint resolve to further strengthen their cooperation in the coming years to achieve long-term development goals and build a prosperous future for the people of Pakistan.

Read More: Indus Water Treaty cannot be suspended unilaterally: World Bank

Earlier in May, President World Bank Ajay Banga said that there is no clause in the Indus Water Treaty (IWT) to hold the agreement in abeyance or suspend it by one party of the treaty.

In an interview with CNBC, WB President Ajay Banga, however, said that the water treaty may be suspended or amended as per the consent of the parties concerned. He said the World Bank is the broker of the Indus Water Treaty.

The experts have said that the interview of the President of the World Bank is a proof that India cannot hold the Indus Waters Treaty in abeyance unilaterally. “One-sided suspension of the treaty IWT has been grave violation of the international law,” according to experts.