Islamabad (TDI): Prime Minister Shehbaz Sharif on Tuesday welcomed the pledge of the World Bank to provide $20 billion to Pakistan over the next 10 years.
Assistance of the World Bank and its promise to provide $20 billion under the Country Partnership Framework (CPF) for the next ten years to support inclusive and sustainable development is a welcoming step,” Sharif said while address his cabinet’s meeting in Islamabad.
Read More: Pakistan, World Bank Agree on Development Boost
The World Bank Group’s Board of Executive Directors discussed the new CPF for Pakistan, which is aimed to support inclusive and sustainable development by focusing on building human capital besides fostering private sector growth and ensuring economic, social, and environmental resilience.
World Bank and Assistance
The program will address child stunting, learning poverty through quality foundation education, increasing resilience to floods, ensuring food and nutrition security, sustainable energy and air quality, increasing fiscal space, and making private investment more productive and inclusive.
“Our new decade-long partnership framework program for Pakistan represents a long-term anchor for our joint commitment with the government to address some of the most acute development challenges facing the country,” Najy Benhassine, the World Bank’s Country Director for Pakistan was quoted as saying while the board approved the program.
Social and environment sectors constitute some of major challenges for Pakistan, which is presently reeling under tremendous pressure and has embarked on an economic reforms program with support from the International Monetary Fund.
“We are focused on prioritizing investment and advisory intervention that will help crown-in much needed private investment in sectors critical for Pakistan’s sustainable growth and job creation, including energy and water, agriculture, access to finance, manufacturing, and digital infrastructure,” Zeeshan Sheikh, International Finance Corporation’s Country Manager for Pakistan and Afghanistan said.
“Under the Country Partnership Framework, investment will be made in different social sectors of the country,” Sharif informed the federal cabinet.
Sharif on Gawadar International Airport
Also Read:World Bank’s CPF Reviewed for Pakistan’s Growth Goals
Sharif also spoke about the recently operationalized Gwadar International Airport saying that the airport will not only benefit the economy of the militancy-stricken Balochistan province, but the entire country.
“Gwadar International Airport, constructed with 230 million dollars Chinese grant, is a gift for Pakistan from China and we should honour it,” Sharif said.
