The World Bank has urged Pakistan to engage in cooperative endeavors toensure the disbursement of $2 billion in program and project loans duringthe current fiscal year. This request is contingent upon the fulfillment ofpredefined conditions by both federal and provincial governments throughthe effective execution of agreed-upon performance indicators.
In an official statement issued by the Economic Affairs Division (EAD), itwas disclosed that the Country Director of the World Bank engaged indiscussions with Dr. Shamshad Akhtar, Pakistan’s Minister for Finance,Revenue, Economic Affairs, and Privatization.
During their meeting, the two parties conducted a comprehensive assessmentof the World Bank’s ongoing initiatives in Pakistan. Additionally, theyexplored various avenues for expanding collaboration in key prioritysectors with the aim of stimulating economic activity within the country.
Dr. Shamshad Akhtar expressed her gratitude for the World Bank’s role inPakistan’s development, specifically commending the efforts of the WorldBank management and the country team in Islamabad for their contributionsto the nation’s economic progress.
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Najy Binhassine, the Country Director of the World Bank, provided anoverview of the existing project portfolio and highlighted thecollaborative efforts being made in conjunction with the Ministry ofFinance, Revenue, Economic Affairs, and Privatization.
Their combined focus is on enhancing the implementation performance ofongoing projects and maximizing the disbursement of foreign resources. Theoverarching objective of these joint endeavors is to target disbursementstotaling approximately $2 billion for the fiscal year 2023-24.
