World Bank to Invest $20 Billion in Pakistan Over Next 10 Years, Announces Prime Minister
Ahad Cheema Highlights $20 Billion World Bank Partnership to Combat Poverty and Boost Education
ISLAMABAD: Prime Minister Shehbaz Sharif announced that the World Bank will invest $20 billion in Pakistan over the next decade under the new Country Partnership Framework. Speaking at the inauguration of the framework’s ceremony, he highlighted the World Bank’s long-standing cooperation with Pakistan in sectors such as hydropower, energy, and institutional reforms.
Sharif stated that the reforms being introduced today should have been implemented decades ago, expressing confidence that the World Bank’s continued support would contribute significantly to Pakistan’s development. He emphasized that the partnership would also foster growth in the IT sector, alongside progress in education, health, and other key areas.
The Prime Minister further stressed the importance of eliminating corruption to ensure that funds are allocated to essential services like education and healthcare, with the aim of making Pakistan a prosperous nation.
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In his address, Ahad Cheema, a senior official, described the partnership framework as a major milestone in Pakistan’s relations with the World Bank, which has been assisting the country since 1950. The new agreement, which promises $20 billion in funding, is expected to help alleviate poverty and improve the education sector.
