World Bank renews support for Pakistan’s $20B development plan

World Bank Managing Director Anna Bjerde reaffirmed her support for Pakistan’s ambitious $20 billion development plan aimed at maximizing its potential impact. This endorsement came during a pivotal meeting in Riyadh, Saudi Arabia, held alongside the Annual AlUla Conference focused on economic challenges and opportunities in emerging markets.

During this high-level gathering, Finance Minister Muhammad Aurangzeb spoke candidly about Pakistan’s comprehensive 10-year development blueprint with Bjerde. They discussed key components of the Country Partnership Framework (CPF), which guides the World Bank’s engagement with Pakistan, alongside priorities such as energy, education, health, climate change mitigation, and financial sector reforms.

The finance minister underlined Pakistan’s commitment to fostering close collaboration with the World Bank, pledging full cooperation through federal ministries. He highlighted that effective coordination between provincial governments was also critical for ensuring a smoother and more timely implementation of the development program.

This meeting underscored the importance of multilateral efforts in supporting developing economies, exemplified by the World Bank’s ongoing commitment to Pakistan’s ambitious economic roadmap.