ISLAMABAD: The Government of Pakistan and the World Bank have reaffirmed the mutual commitment to strengthening Pakistan’s economic resilience and advancing inclusive development through strategic partnerships.
This commitment was expressed at a meeting between Finance Minister Muhammad Aurangzeb and the World Bank Pakistan team in Islamabad on Friday.
The World Bank team included Najy Benhassine, the outgoing Country Director, and Bolormaa Amgaabazar, the incoming Country Director for Pakistan.
During the meeting, the Finance Minister warmly welcomed Bolormaa Amgaabazar to Pakistan and extended his best wishes for her upcoming assignment. He expressed confidence that the collaborative efforts between Pakistan and the World Bank would continue to flourish under her leadership.
Muhammad Aurangzeb also took the opportunity to commend Najy Benhassine for his valuable contributions and unwavering support to the Government of Pakistan throughout his tenure. He acknowledged Najy Benhassine’s role in strengthening the development partnership and wished him success in his future endeavors.
Highlighting the enduring relationship between Pakistan and the World Bank, the Minister expressed gratitude for the Bank’s generous financial and technical assistance across key sectors of the economy. He emphasized the importance of the recently signed 10-year Country Partnership Framework (CPF) as a pivotal element in Pakistan’s economic roadmap, noting its potential to transform critical sectors through strategic and well-coordinated implementation.
Muhammad Aurangzeb underscored the significance of effectively executing the CPF’s Country Financing Framework (CFF), describing it as essential to unlocking the full benefits of the World Bank’s support. He particularly praised the institutional, technical, and financial backing consistently provided by the Bank.
The Minister also highlighted the recent successful completion of the International Monetary Fund review and the subsequent one billion dollar disbursement under the Extended Fund Facility, along with additional resources made available through the Resilience and Sustainability Facility. He noted that development finance must be guided by merit and objective assessment, rising above political considerations to ensure sustainable progress.
