Support for Pakistan’s economy has been reaffirmed by the World Bank

Shamshad Akhtar, Pakistan’s finance minister, and Najy Binhassine, the country director for the World Bank, met on Saturday to go over and assess the ongoing relationship between Pakistan and the World Bank. Enhancing cooperation in crucial priority sectors to boost economic activity in Pakistan was the main topic of their meeting.
Akhtar extended a warm welcome to the World Bank group and emphasised Pakistan’s sincere gratitude for the organization’s support of its development efforts. She thanked the World Bank’s national team in Islamabad in particular for their tireless efforts in aiding Pakistan’s economic growth.
Binhassine gave a brief review of the current portfolio at the meeting and reaffirmed the World Bank’s commitment to working with Pakistan’s Ministry of Finance, Revenue, Economic Affairs, and Privatisation to enhance project execution and maximise the distribution of foreign resources. It was discovered that coordinated efforts aim to make payments of about $2 billion in FY2023–24.
The government’s reform plan and ongoing attempts to stabilise the economy were further discussed by the finance minister. She stressed the significance of enacting reforms as a way to unleash Pakistan’s growth potential, particularly in the energy sector. The Pakistani government continues to place a high premium on policy reforms in this area, she said.
The RISE-II Development Policy Financing Programme, which was only recently agreed between the World Bank and Pakistan’s EAD, was also discussed during the conference.