WB country director meets Hafeez Shaikh, discusses ongoing projects

ISLAMABAD: The World Bank Country Director Patchamuthu Illangovan called on Advisor to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh here on Monday.

According to a statement issued from the ministry, matters of mutual interests, ongoing projects supported by the World Bank and other issues were came under discussion in the meeting.

Abdul Hafeez Shaikh emphasized the need to expedite the finalization of the new financing in the pipeline before the end of fiscal year-2019.

On the occasion, he said,” All approvals will be expedited to ensure timely disbursement.”

 It was also agreed that the World Bank Chief Executive Officer Kristalina Georgieva would meet Prime Minister Imran Khan in China during his visit later this month there.

Read More: World Bank believes Pakistan’s rapid urbanisation can positively transform economy

Earlier, a new World Bank report, issued on April 13, had said Pakistan’s rapid urbanisation could support the efforts to transform its economy.

“The country is the most urbanised large country in South Asia, with 36 percent of the population living in urban areas and urban centres which accounts for over half of Pakistan’s GDP,” it had said.

According to the report, the pronounced youth growth, coupled with continuing rural-urban migration, had provided a large labour pool.