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PM hails $20bn World Bank partnership to boost growth

48 1
25.01.2025
WORLD Bank South Asia Vice President Martin Raiser presents a booklet to Prime Minister Shehbaz Sharif in Islamabad.—PPI

• WB formally launches decade-long Country Partnership Framework
• Says it is ‘ambitious in taking risks’ for long-term plan

ISLAMABAD: Prime Mini­ster Shehbaz Sharif on Thu­rsday hailed the $20 billion Country Partnership Frame­work (CPF) as a landmark initiative, even as a World Bank official acknowledged they were ‘taking a risk’ by offering Pakistan the unusual decade-long partnership.

Addressing the launch ceremony of the decade-long CPF, the prime minister described it as a transformative partnership marking the longest development collaboration between Pakistan and the Bank, forged through years of strategic cooperation to promote employment opportunities, IT-led development and climate resilience while ensuring economic stability..

He emphasised that the frame­work aims to address Pakistan’s pressing economic and developmental challenges while fostering growth, resilience and technological progress.

The prime minister commended the World Bank for its support through pivotal projects, including hydropower, water management and economic reforms. He expressed gratitude to the World Bank team for their leadership in shaping the framework, calling it a timely intervention to help Pakistan overcome immense challenges.

Highlighting progress in digitising the Federal Board of Revenue (FBR), PM Shehbaz announced a pilot project at Karachi Port aimed at curbing corruption by reducing collusion between importers and customs........

© Dawn Business