PM, World Bank Chief Discuss Economic Reforms
ISLAMABAD: President of the World Bank Group (WBG), Mr. Ajay Banga, called on Prime Minister Muhammad Shehbaz Sharif in Islamabad on Monday during his first official visit to Pakistan in his capacity as head of the global financial institution.
Welcoming Mr. Banga, the Prime Minister acknowledged the World Bank Group’s long-standing partnership with Pakistan, noting that its support has played a significant role in advancing the country’s economic development and reform agenda.
Prime Minister Shehbaz Sharif appreciated the World Bank Group’s continued commitment to Pakistan’s development priorities, particularly under the 10-year World Bank Group Country Partnership Framework (CPF). He also praised Mr. Banga’s leadership in positioning the World Bank as a more impactful and results-oriented development partner.
The Prime Minister said the government was vigorously pursuing a comprehensive, multi-pronged, and home-grown economic reform programme aimed at achieving sustainable economic stability.
He acknowledged the World Bank Group’s support across key sectors, including resilient infrastructure, agribusiness, digital development, energy, human capital development, fiscal reforms, and efforts to increase productive private investment for job creation and economic growth.
Both sides reiterated the need to fast-track implementation of development projects and ensure strong oversight to deliver results at speed and scale in line with CPF-aligned priorities. These steps, the Prime Minister noted, would support his initiative to address implementation bottlenecks in development projects.
The Prime Minister reaffirmed the government’s commitment to structural reforms designed to unlock job-rich growth and strengthen investor confidence.
Mr. Ajay Banga thanked the Prime Minister for the warm reception and hospitality and commended the Government of Pakistan’s ongoing reform efforts. He reaffirmed his commitment to deepening cooperation with Pakistan through a One World Bank Group approach.
He added that greater mobilization of private resources, alongside strong coordination with development partners, would be essential to achieving the government’s reform ambitions.
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