World Bank chief lauds Pakistan's economic reforms in meeting with PM Sharif

ISLAMABAD: World Bank (WB) President Ajay Banga lauded Pakistan’s economic reforms in a meeting with Prime Minister Shehbaz Sharif in Islamabad on Monday.

Banga landed in Pakistan on a four-day official visit to discuss 10-year World Bank Country Partnership Framework.

As per details, Prime Minister Shehbaz Sharif met World Bank Group President Ajay Banga and welcomed him on his first official visit to Pakistan. The prime minister appreciated the World Bank’s continued support for Pakistan’s economic development and reform agenda.

He said Pakistan values its long-term partnership with the World Bank and acknowledged the Bank’s commitment to supporting the country’s development priorities, particularly under the 10-year World Bank Country Partnership Framework. The prime minister also praised World Bank President Ajay Banga’s leadership and efforts to further strengthen the World Bank’s role as an effective development partner.

Prime Minister Shehbaz Sharif stated that the government is implementing a comprehensive reform programme tailored to national needs in order to achieve sustainable economic stability. He highlighted the World Bank’s valuable assistance in key sectors including infrastructure development, agribusiness, digital growth, energy, and financial reforms.

Asserting the importance of effective implementation, the Prime Minister stressed the need for fast-tracked execution and strong monitoring of priorities aligned with the Country Partnership Framework, noting that these steps would help remove obstacles to development projects.

He further said the government remains committed to job-led economic growth, restoring investor confidence, and pursuing wide-ranging administrative reforms.

World Bank Group President Ajay Banga thanked the Prime Minister for the warm reception and hospitality. He appreciated the reform efforts undertaken by the Government of Pakistan and reaffirmed the World Bank Group’s commitment to expanding cooperation under its “One World Bank Group” approach.

Ajay Banga underlined that close coordination with development partners and efficient use of resources are essential for achieving the objectives of the reform agenda.