ISLAMABAD: Federal Minister for Economic Affairs, Ahad Cheema, and Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP) at the World Bank, Ousmane Dione during a meeting on Wednesday agreed to develop a comprehensive package to ensure the effective implementation of the Country Partnership Framework (CPF) for 2026–2035.
During his first official visit to Pakistan, Dione discussed with Minister Cheema Pakistan’s development priorities and the strategic direction of the World Bank’s engagement under the newly formulated Country Partnership Framework (CPF) for the period 2026 to 2035, according to press release issued by Economic Affairs Division (EAD).
Minister Cheema also welcomed the World Bank’s recent administrative restructuring, which places Pakistan under the MENAAP region effective from July 1, 2025. He noted that this restructuring aligns with the regional frameworks used by other international financial institutions, including the IMF and IFC, and is expected to further enhance coordination and responsiveness.
He, while appreciating the World Bank’s substantial commitment of 20 billion US dollars under the CPF, reaffirmed the government’s commitment to work closely with the World Bank’s country team to ensure effective implementation of the CPF.
The Minister also thanked the Bank’s leadership, including the President, Managing Director of Operations, and the Pakistan Country Office, for their continued support, particularly during the COVID-19 pandemic and the devastating floods of 2022.
He highlighted that WB remains Pakistan’s largest development partner and has played an important role in supporting the development efforts of the government.
He stated that Pakistan was gradually emerging from a phase of economic instability, as reflected in declining inflation, improvement in foreign exchange reserves, and growing investor confidence.
He underlined the need for sustained support from development partners to consolidate these early signs of recovery and translate them into inclusive and lasting economic growth.
On the occasion, Ousmane Dione thanked the government of Pakistan for the warm reception and acknowledged the progress made in stabilizing the economy and advancing key reforms.
He reaffirmed the World Bank’s commitment to supporting Pakistan in achieving its development goals and highlighted the importance of the CPF as a long-term strategic partnership that will help Pakistan to address challenges such as climate vulnerability, human capital development, institutional capacity building, clean energy, mobilizing more public resources for inclusive development.
He assured the Minister that the World Bank will continue to work closely with Pakistan’s leadership to deliver impactful results on the ground. Dione expressed confidence that the partnership will lead to tangible improvements in the lives of the Pakistani people.
Both sides reaffirmed their shared commitment to a strong and forward-looking development partnership. Minister Ahad Cheema expressed optimism that under Dione’s leadership, cooperation between Pakistan and the World Bank will deepen further and help drive meaningful progress across key development sectors.
