ISLAMABAD: A new era of development cooperation between the Government of Pakistan and the World Bank has officially begun.
With the support of the Special Investment Facilitation Council (SIFC), the two sides have agreed on a “Country Partnership Framework” covering the next ten years, which includes a comprehensive strategy for private sector development, economic and environmental sustainability.
Under the “Country Partnership Framework”, development investments of $ 20 billion are expected in Pakistan over the next decade, which aims to promote long-term growth, job opportunities, digital revolution, quality education, environmental protection and food security in the country.
Ana Bejard, Managing Director for Operations of the World Bank, while appreciating the ongoing steps taken by Pakistan for economic reforms and environmental protection, said that this framework is not only in line with global requirements but is also fully compatible with Pakistan’s “Udan Pakistan” program and the Prime Minister’s economic agenda.
The Government of Pakistan has expressed its commitment that under this framework, integrated measures will be taken to promote social protection, financial inclusion and empowerment of vulnerable segments of society, including women.
A statement issued by SIFC said that the institution will play a key role in promoting private investment and creating a conducive business environment, so that sustainable improvement in the economy is possible.
This partnership will not only increase the pace of development projects but will also help Pakistan address environmental challenges, eradicate poverty and move towards economic self-sufficiency.
