Islamabad: Prime Minister Shehbaz Sharif has welcomed the World Bank’s announcement of a $40 billion investment in Pakistan, calling it a major boost for economic growth and development. Speaking in Islamabad, the Prime Minister emphasized that this investment marks a new chapter in Pakistan’s progress, particularly in critical sectors like health, education, and youth empowerment.

In January, the World Bank introduced a 10-year Country Partnership Framework (CPF) for Pakistan, committing $20 billion in financing to drive sustainable and inclusive growth. Now, with an additional $20 billion from the International Finance Corporation (IFC) directed toward private-sector investments, Pakistan is set to benefit from a total of $40 billion.

During a meeting with a delegation of nine World Bank executive directors, PM Shehbaz expressed his appreciation for the organization’s ongoing support. He highlighted the key role the World Bank has played in Pakistan’s development, particularly after the devastating 2022 floods.

“We are grateful for the World Bank’s trust in our policies,” said the Prime Minister. “This partnership will significantly strengthen our economy, improve essential services, and create more opportunities for our people.”

The funding will be allocated to various development projects, including infrastructure, education, healthcare, and employment generation. The Prime Minister noted that Pakistan’s ongoing economic reforms are yielding positive results, with an increase in exports and remittances, improved manufacturing investments, and a digital transformation of the Federal Board of Revenue (FBR) to enhance transparency and efficiency.

Shehbaz Sharif also assured that Pakistan’s energy sector is stabilizing, with uninterrupted power supply and a reduction in fiscal deficits. He highlighted the role of the Special Investment Facilitation Council (SIFC) in creating a business-friendly environment for both local and foreign investors.

The World Bank delegation praised Pakistan’s economic reform program, stating that under PM Shehbaz’s leadership, the country is moving toward financial stability.

As Pakistan continues on its path to economic resilience, this multi-billion-dollar investment from the World Bank is expected to play a crucial role in strengthening key sectors and ensuring long-term sustainable growth.