PM Welcomes $20bn World Bank Pledge.
Prime Minister Shehbaz Sharif has welcomed the World Bank’s pledge of $20 billion to Pakistan under its 10-year Country Partnership Framework.
In a statement released on social networking site X, he said that we welcome the World Bank’s pledge of $20 billion to Pakistan under its first 10-year Country Partnership Framework (CPF).
He said that by focusing on six key areas including child nutrition, quality education, clean energy, environment, inclusive growth, and private investment, the CFP reflects our national priorities as envisioned in our Homegrown Economic Transformation Plan.
The Prime Minister said,e”I appreciate the efforts of General Asim Munir and my colleagues who worked day and night to strengthen Pakistan’s foundation for such partnerships.
He s”aid that the CPF reflects the World Bank’s confidence in Pakistan’s economic resilience and capacity,
We look forward to strengthening the partnership by coordinating our efforts to create sustainable opportunities for our people.
It may be recalled that the World Bank pledged to provide $20 billion to Pakistan under the 10-year Country Partnership Framework yesterday.
According to information received from sources, the joint efforts of the Prime Minister and Army Chief General Asim Munir have begun to bear fruit.
The World Bank will provide about three-quarters of the $20 billion through the International Development Association (IDA),
The remaining amount will be provided under the International Bank for Reconstruction and Development (IBRD).
Sources say that the expanded framework will focus on six key development sectors. The CPF will be complemented by additional funding from the International Finance Corporation (IFC).
Sources said that the CPF aims to reduce child stunting, prevent climate change, improve learning outcomes, provide clean water, and increase public resources and private investment for inclusive development.
Sources said that the specific targets include increasing tax revenue to more than 15 percent of GDP, increasing renewable energy capacity by 10 gigawatts, providing quality education to 12 million students, and providing health facilities to 50 million people. The CPF also includes providing clean water and sanitation facilities to 60 million people.
According to sources, there are targets such as strengthening food security for 30 million people and increasing access to contraception for30 million women,
Targets have been set to deal with floods and other disasters and hazards and, 75 million people will benefit.
19 out of 24 directors voted in favor of Pakistan for the approval of the 10-year Country Partnership Framework.
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