Islamabad: The World Bank has indicated its intention to provide $2 billion in financial support to Pakistan during this fiscal year.
Caretaker Federal Finance Minister Shamshad Akhtar announced that the government is actively implementing economic reforms to stabilize the economy and foster sustainable growth. Pakistan highly values its development partnership with the World Bank.
During a meeting, the Country Director of the World Bank, Naji bin Hussain, disclosed that collaborative efforts are underway to secure $2 billion in financing for Pakistan from the World Bank in the current fiscal year. While the specifics of how this funding will be allocated were not provided, the commitment was made.
The Ministry of Finance also announced that the meeting between Country Director Naji bin Hussain and Shamshad Akhtar included a review of the progress of ongoing World Bank projects in Pakistan. Furthermore, they discussed the overall performance of these projects and explored various options to expand cooperation across priority sectors to stimulate economic activities within the country.
Country Director Naji Benhisan offered an extensive briefing to the caretaker finance minister regarding the current portfolio of World’s Bank projects. He highlighted that the World’s Bank, in collaboration with the Ministry of Finance, is actively working to enhance the performance of ongoing projects and increase the disbursement of foreign resources.
Shamshad Akhtar, in turn, provided the Country Director of the World’s Bank with insights into Pakistan’s reform agenda and the government’s continuous efforts to ensure economic stability. He also expressed Pakistan’s deep appreciation for the World Bank’s timely assistance during last year’s floods, emphasizing the need for further support to address the country’s emergency requirements.