ISLAMABAD: Prime Minister Shehbaz Sharif on Friday lauded the World Bank Group’s recently launched new decade-long Country Partnership Framework (CPF) (2026-35), which features an exceptional commitment of US$40 billion.
A statement issued by the PM Office said it would include sovereign lending of US$ 20 billion by the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD).
The International Finance Corporation (IFC) will mobilise another US$ 20 billion to foster private sector investments in Pakistan.
Aurangzeb discusses Pakistan’s structural reforms with IFC chief
The prime minister during his meeting with Makhtar Diop, managing director and executive vice president of IFC, the private sector investment arm of WBG, discussed IFC’s ongoing and pipeline portfolio in Pakistan.
Sharif lauded the IFC’s role in fostering private sector investments and expanding portfolio in Pakistan.
He encouraged the IFC to enhance its support under the key areas including infrastructure and logistics, outsourcing of large airports, agriculture, information technology, mining, climate resilience, healthcare and water and sanitation.
He also encouraged IFC to enhance collaboration with the private sector arms of other multilateral institutions for maximising private sector participation in the development process and achieving greater impact.
Sharif emphasised to focus on export-led growth, underlining the need for digitisation of the entire eco-system of Pakistan’s economy.
Ongoing digitisation efforts of the Federal Board of Revenue (FBR) were also highlighted.
Diop reciprocated by highlighting the need for increased private sector investments to improve the road and power sector infrastructure, especially transmission lines, airport services, wheat storage infrastructure including silos to enhance the private sector’s role in facilitating exports.
In order to have a healthy population for sustained economic growth, the need of private investment in water, health and sanitation – with desired social safeguards was also highlighted at the meeting.
Diop appreciated Pakistan’s productive engagement with IMF and successful ongoing economic reforms.
He shared that government’s efforts to create an enabling environment for the private sector operations in Pakistan has increased investors’ confidence.
He assured the prime minister of IFC’s continued support to the private sector in Pakistan duly aligned with the government’s priorities.
Sharif underscored the need to design various programmes to foster human development especially the youth of Pakistan. He noted that the youth of Pakistan was provided skills training through various initiatives.
Diop promised to enhance IFC’s focus on the priority sectors of the government and thanked the prime minister and other relevant government stakeholders for their continued support to the IFC’s interventions in Pakistan.
Copyright Business Recorder, 2025
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