Washington DC, 14 March 2023 (TDI): Ambassador of Pakistan to the United States (US), Masood Khan met with Martin Raiser, Vice President of the World Bank for the South Asia Area, today.
The agenda of the meeting was to advance collaboration between Pakistan and the World Bank in the development and climate response sectors.
Martin Raiser co-chaired a high-level roundtable on October 14th of last year with the United Kingdom (UK) which was held in conjunction with the World Bank and International Monetary Fund’s (IMF) 2022 Annual Meetings.
The discussion focused on ways to address the effects of Pakistan’s devastating floods. He visited Pakistan earlier in September 2022 and reaffirmed the Bank’s commitment to helping Pakistani citizens recover from catastrophic flooding.
Ambassador Masood thanked the World Bank for contributing US$ 2 billion to Pakistan during the International Conference on Climate-Resilient Pakistan in Geneva.
The aid was for flood recovery, rehabilitation, and reconstruction, which would include assistance with housing, water and agriculture, social protection, and health, among other things.
In this vein, the Ambassador stated that “The World Bank has been a resolute development partner of Pakistan.”
Moreover, Masood Khan requested increased funding and help from the Bank for health-related projects, particularly to address the issue of water-borne infections in flood-affected areas.
He also asked for the Bank’s assistance in shifting from adaptation and mitigation to resilience building.
Along these lines, he stated that Pakistan was committed to creating a transparent and effective procedure for distributing funds to flood victims.
Further, he went on to say that the formation of an International Partners Support Group (IPSG) would be announced soon for this purpose.
The Ambassador also expressed gratitude to the World Bank for releasing around $1.2 billion in promised financing for different ongoing projects in Pakistan.
He went on to say that a smooth flow of funding will facilitate the timely completion of social sector programmes.
While according to Martin Raiser, the World Bank remains dedicated to Pakistan’s long-term growth, with a focus on switching to renewable energy, particularly hydro and solar power.
He praised the existing cooperation between the Bank and relevant government entities in Pakistan and predicted that it will be enhanced in the coming years.