Islamabad(The COW News Digital)The World Bank has reaffirmed its commitment to a $20 billion, 10-year development program for Pakistan, signaling continued support for the country’s long-term economic and social reforms. The announcement followed a high-level meeting between Pakistan’s Finance Minister, Mohammad Urangzeb, and the World Bank Managing Director during his visit to Saudi Arabia.
According to the Ministry of Finance, the meeting reviewed progress under Pakistan’s development framework in key sectors such as energy, education, healthcare, and climate change. Discussions also touched upon development projects linked to debt-for-development swaps, highlighting avenues for sustainable growth.
The World Bank emphasized the importance of improving implementation across various projects, underlining its ongoing commitment to backing Pakistan’s economic reforms. Officials noted that the institution remains dedicated to strengthening institutional capacity, fostering investment, and supporting initiatives aimed at social development and poverty alleviation.
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The reaffirmation comes at a crucial time for Pakistan, as the country navigates economic challenges while seeking to attract investment and accelerate infrastructure and social development projects. With the World Bank’s long-term support, officials hope to ensure more consistent funding for key sectors, promoting growth and stability over the next decade.
Both parties agreed to continue close cooperation and monitor progress regularly to ensure that development initiatives are implemented efficiently and achieve intended outcomes. The collaboration aims to strengthen Pakistan’s ability to meet its development goals while enhancing resilience against economic and environmental shocks.
The 10-year program reflects a broad partnership between Pakistan and the World Bank, aiming to improve governance, enhance human capital, and address climate and energy challenges, aligning with Pakistan’s broader strategic development priorities.
