Pakistan, World Bank to Swiftly Implement New Country Partnership Framework

Islamabad – Federal Minister for Economic Affairs Ahad Cheema and World Bank Managing Director for Operations (MDO) Anna Bjerde have agreed to swiftly develop an implementation mechanism for the new Country Partnership Framework (CPF) to ensure the achievement of its expected outcomes.

In a high-level meeting held in Islamabad, both sides discussed ways to improve the operational effectiveness of the World Bank’s ongoing portfolio in Pakistan and identified prospective areas of collaboration under the CPF. Senior officials from the Ministry of Economic Affairs and the World Bank also participated.

Minister Cheema expressed appreciation for the World Bank’s consistent support toward Pakistan’s development agenda and praised the proactive efforts of the WB country office, led by outgoing Country Director Najy Benhassine.

He highlighted Pakistan’s recent economic recovery, attributing it to the government’s comprehensive reforms aimed at achieving sustainable macroeconomic stability. He also pointed to the successful progress on the IMF’s Extended Fund Facility (EFF) and the recent upgrade in Pakistan’s credit rating by Fitch as validation of the country’s reform path.

WB’s MDO Anna Bjerde acknowledged the government’s successful engagement with the IMF and the signs of economic recovery. She praised the CPF as a pioneering model focused on human capital development, and one that could serve as a reference for other World Bank member countries.

Minister Cheema urged the World Bank to prioritize social protection graduation programs for provinces and explore cost-reduction strategies in energy generation to ensure affordability. The MDO assured the World Bank’s continued support and technical assistance in these areas.

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Both sides emphasized the importance of creating a more enabling environment for private sector participation through the ongoing and upcoming projects under the CPF.

The meeting concluded on a positive note with a shared commitment to a results-oriented partnership aimed at delivering tangible improvements in the lives of Pakistani citizens.