Prime Minister Shehbaz Sharif welcomed a $40 billion investment from the World Bank, highlighting its potential to drive Pakistan’s development. The investment will support various sectors and open new economic opportunities, the PM said in a statement released Monday.
World Bank’s Country Partnership Framework
The World Bank’s investment falls under its 10-year Country Partnership Framework (CPF). PM Shehbaz met a delegation of nine World Bank executive directors in Islamabad to discuss the plan. “Under the recent CPF, an investment of $40 billion will be made in Pakistan,” Shehbaz stated.
The PM emphasized that past World Bank projects had significantly contributed to Pakistan’s development. He also acknowledged the Bank’s support after the 2022 floods and its role in multiple reconstruction projects.
Investment Breakdown
Shehbaz revealed that $20 billion would be invested in Pakistan’s private sector through the International Finance Corporation (IFC). The remaining $20 billion will be allocated to development in sectors such as health, education, and youth development.
This partnership, he said, reflects the World Bank’s confidence in Pakistan’s economic policies. “Our program for institutional and economic reform is progressing swiftly, and the economy is moving in the right direction,” he added.
Read: World Bank Delegation Arrives in Pakistan After Two Decades
Economic Progress and Reforms
During the meeting, Shehbaz highlighted key improvements in Pakistan’s economy. Exports and remittances are rising, and investment in manufacturing has increased due to low interest rates. Additionally, digitization efforts in the Federal Board of Revenue (FBR) are being prioritized to curb corruption.
The PM noted significant progress in the power sector, including uninterrupted electricity supply and a reduction in the country’s power deficit.
Support from the World Bank Delegation
The World Bank delegation praised Pakistan’s reform efforts, calling them “positive developments.” They noted that Pakistan’s economic progress is moving rapidly under PM Shehbaz’s leadership. The delegation also plans to discuss further investment and economic development projects during their visit.
Creating an Investor-Friendly Environment
PM Shehbaz also pointed to Pakistan’s Special Investment Facilitation Council (SIFC) as a key factor in attracting investors. “This unique system involves all stakeholders, creating an attractive environment for investment,” he said.
Shehbaz concluded by thanking his team for their efforts in achieving Pakistan’s economic progress and reiterated the government’s commitment to sustainable development.
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