ISLAMABAD: Economic Affairs Minister Makhdoom Khusro Bakhtyar informed theWorld Bank (WB) on Saturday that the Pakistan government would be able tocomplete three different development policy credits in due time, if theyapprove economic reforms proposed by the World Bank and Asian DevelopmentBank (ADB) intended to simplify the execution of development projects.
The minister gave this briefing during a meeting with WB Country Directorfor Pakistan, Najy Benhassine, and shared Prime Minister Imran Khan’sdirection to expedite the economic reforms in coordination with globaldonors.
Bakhtyar urged the World Bank official to expand the priority areas ofcooperation with Pakistan in the field of energy, tourism, low-cost housingschemes, and the availability of a COVID-19 vaccine.
Khusro Bakhtyar also thanked and appreciated the World Bank for extending a$200 million package to help Pakistan take effective and timely action torespond to the COVID-19 pandemic. He also appreciated the World Banksupport for locust emergency control project worth $200 million to mitigatethe adverse impact of parasite attack on the food basket of the country.
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The World Bank country director thanked the minister for WB portfolioreview exercise, and appreciated the government’s resolve to expedite theimplementation of bank-funded projects. He assured that the World Bankwould consider the recommendations to strengthen its portfolio in Pakistan.
The three DPC series projects are: Securing Human Investments to FosterTransformation (SHIFT); Resilient Institutions for Sustainable Economy(RISE); and Programme for Affordable and Clean Energy (PACE).
