WB to continue support Pakistan in hydropower projects
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ISLAMABAD: The World Bank (WB) President, Dr Jim Yong Kim Monday assured bank's continued support for Pakistan's projects including Dasu and Tarbela as well as other hydropower projects.
He was talking to Finance Minister, Senator Mohammad Ishaq Dar who called on The World Bank President at Washington, according to press statement issued by the finance minister here.
He opined that Pakistan could further benefit from technological improvements in the renewable energy sector and offered The WB's technical and financial help in this regard.
The World Bank President Jim Yong Kim congratulated the finance minister on successful completion of the IMF programme and hoped that Pakistan would continue with the reforms process to sustain the higher growth trajectory.
Both the dignitaries also discussed in detail The WB's portfolio in Pakistan.
On the occasion, the finance minister acknowledged the role being played by The World Bank for resolving disputes under the Indus Waters Treaty and urged expediting the process.
He said the resolution of the issue "Would lead to water security in the region."
Dar apprised President Kim about the improvement in the macro-economic situation in the country which had been acknowledged and appreciated by the international financial institutions.
Pakistan's economy was set to grow by over 5 percent in the fiscal year ending in June 2017, he added.
The focus, he said, was now on making the growth inclusive and sustainable.
For the purpose, he said, government was also focusing on the social sectors. Innovative measures, including Pakistan Development Fund and Pakistan Infrastructure Bank, were being undertaken to maintain the higher growth trajectory, Ishaq Dar remarked.
Dar highlighted the potential for hydro power generation and water storage in the country and requested The World Bank's support in undertaking hydro power projects on Indus River cascade.
The meeting was attended by the governor SBP, finance secretary, secretary EAD and Pakistan's executive director in The World Bank.
President Kim was accompanied in the meeting by The World Bank's Chief Executive Officer/ Managing Director Kristalina Georgieva and other senior management, the statement added. (APP)
