A high-level delegation of nine Executive Directors from the World Bank Group (WBG) has arrived in Pakistan, marking the first such visit in nearly 20 years. The delegation represents 88 member countries on the World Bank Board and aims to assess economic development initiatives, investment opportunities, and the implementation of the recently approved $40 billion Country Partnership Framework (CPF).
Key Meetings with Government Officials
During their stay, the delegation will hold discussions with Pakistan’s top government officials, including the Prime Minister, Finance Minister, Minister for Economic Affairs, Minister for Planning, and Minister for Energy. The primary focus of these meetings will be on strengthening Pakistan’s economic framework, attracting private sector investment, and ensuring the efficient execution of the CPF over the next decade.
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The CPF has drawn significant attention at the World Bank headquarters, with other countries viewing it as a model for structuring economic cooperation. This framework aims to enhance economic resilience, support private sector growth, and improve infrastructure across Pakistan.
Provincial Visits for Development Assessment
The delegation will visit multiple provinces, including Khyber Pakhtunkhwa, Sindh, Punjab, and Balochistan. These visits are intended to provide firsthand insights into local development challenges and opportunities, ensuring that World Bank-funded projects align with the country’s needs. Meetings with business leaders, academia, and civil society members will also take place to gather diverse perspectives on economic development.
The World Bank’s engagement extends across various sectors, including energy, education, and climate resilience. Notably, the visit follows previous statements by World Bank Vice President for South Asia, Martin Raiser, who emphasized that the $20 billion lending commitment alone would not be sufficient to meet Pakistan’s development goals over the next decade. He urged the country to mobilize additional resources and improve the business climate to attract private investment.
World Bank’s Role in Pakistan’s Economic Future
The World Bank Group, consisting of five institutions—the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID)—plays a crucial role in shaping global economic policies. Its continued support is seen as vital for Pakistan’s long-term economic transformation.
The visiting delegation will work on formulating business strategies and ensuring effective implementation of key initiatives, reinforcing the World Bank’s commitment to Pakistan’s economic stability and development.
IMF Loan Negotiations Underway
Meanwhile, Pakistan has also begun preparations for securing an additional $1.5 billion loan from the International Monetary Fund (IMF). Two IMF delegations are expected to visit the country later this month to assess Pakistan’s economic conditions and negotiate the new loan, which is aimed at addressing climate change-related damages. The discussions will also cover the next tranche of the already approved $7 billion IMF program, bringing the total negotiations to $2.5 billion.
The World Bank delegation’s visit, combined with ongoing IMF negotiations, underscores the critical role of international financial institutions in stabilizing Pakistan’s economy and ensuring sustainable development in the years ahead.
The Delegation Members
The World Bank delegation consists of Abdelhak Bidjoui, who represents Algeria and eight other countries, Zainab Ahmed of Nigeria, who represents South Africa and Angola, and Beatrice Messer from Switzerland, representing Central Asia and Switzerland. Other members include Robert Bruce Nicholl from Australia, representing 14 countries, including South Korea, New Zealand, and Australia, and Teresa Solbus of Spain, representing seven South American nations, including Mexico and Costa Rica.
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Also part of the delegation is Paul Bonmartin from France, Lonkho Luliko Megagola of Eswatini, who represents 21 African countries, including Tanzania, Zimbabwe, Kenya, and Ethiopia, and Marlene Suzi Nzingo from the Central African Republic, representing 23 African nations. Tauqir Shah from Pakistan, who represents Pakistan and seven other countries, is also a key member of the delegation. Accompanying them is Mercy Tembon, the World Bank Group Company Secretary and Vice President.