Pakistan, World Bank review progress on 10-year $20bn reform and growth programme
By Shahzad Paracha :
The World Bank has renewed its commitment to supporting Pakistan’s $20 billion long-term development programme, reinforcing its backing for the country’s economic reforms and growth priorities.
Finance Minister Muhammad Aurangzeb held a meeting with World Bank Group Managing Director Anna Bjerde during the AlUla Conference for Emerging Market Economies in Saudi Arabia, where both sides reviewed the progress of ongoing cooperation.
Discussions centred on Pakistan’s Country Partnership Framework (CPF) and followed up on the recent visit of the World Bank president to Islamabad. Key areas under review included the energy sector, education and healthcare systems, climate resilience initiatives, infrastructure development, fiscal restructuring, and innovative financing mechanisms such as debt-for-development swaps.
Both delegations agreed that stronger implementation mechanisms, measurable performance indicators, and a more targeted strategy are essential to achieve meaningful and timely outcomes.
Anna Bjerde reiterated the World Bank’s firm support for Pakistan’s 10-year, $20 billion development roadmap. In response, the finance minister assured continued close engagement with the World Bank and highlighted the importance of coordination with provincial authorities to ensure effective execution of projects.
The World Bank Board approved the $20 billion financing framework last year, covering the period from 2025 to 2035. The initiative aims to address critical challenges, including improving education outcomes, strengthening public health systems, and protecting vulnerable communities from climate-related risks.
Prior to approving the programme, the World Bank had projected moderate economic growth for Pakistan, estimating GDP expansion of 3.8% by 2029, alongside a fiscal deficit of 6% of GDP and a public debt level reaching 73% of the national economy.
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