ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb on Wednesday called for the operationalization of the World Bank Country Partnership Framework (CPF) to advance the government’s key reform priorities during a meeting with the Bank’s country director, according to a statement.
The Bank’s Board of Directors approved a 10-year CPF deal with Pakistan, indicating $20 billion in financing for Pakistan under the framework. The amount will include public and private financing from the World Bank Group, with roughly half expected to come from private-sector operations led by the International Finance Corporation (IFC).
“The Finance Minister emphasized the importance of effective operationalization of the CPF, particularly in priority areas such as population management and climate change,” the finance ministry said in a statement after Aurangzeb’s meeting with the Bank’s Country Director Bolormaa Amgaabazar.
“He underscored the need for strong coordination between federal and provincial governments to ensure coherence in policy design and implementation.”
Discussions focused on population, human capital development, climate resilience, agricultural reform and energy sector sustainability, it added.
The ministry said both sides exchanged views on enhancing institutional coordination, improving transparency in project design and strengthening monitoring mechanisms to deliver intended outcomes. It highlighted that the World Bank expressed readiness to continue supporting agricultural transformation efforts in collaboration with the IFC.
“Both sides agreed to continue technical-level engagements to explore feasible solutions in line with Pakistan’s reform agenda and fiscal framework,” the finance ministry added.
Climate resilience and population control are major concerns for policymakers in Pakistan, a country whose population exceeds 241 million, making it the world’s sixth-most populous country. Limited infrastructure, health care, and educational opportunities place added strain on public services, contributing to unemployment and poverty.
The South Asian nation is also among the countries most affected by climate change. Unusually heavy monsoon rains in 2022 killed more than 1,700 people and caused over $30 billion in damages. Torrential rains and floods since late June last year have claimed more than 1,000 lives, as authorities continue surveys to assess the full extent of the destruction.
