Pakistan, World Bank Reinforce Development Alliance

Pakistan and the World Bank have solidified their collaborative partnership for progress during recent discussions held in Washington, D.C. Both parties have pledged their dedication to the successful execution of the newly introduced $40 billion Country Partnership Framework (CPF) spanning from 2026 to 2035.

This development arose during a conference between Federal Minister for Economic Affairs Ahad Khan Cheema and top-tier World Bank executives during his formal visit to the United States, according to a statement issued on Friday by the Economic Affairs Division (EAD).

“In a constructive dialogue with Anna Bjerde, Managing Director for Operations, and Martin Raiser, South Asia Regional Vice President, Cheema commended the deepened cooperation between Pakistan and the World Bank Group over the past year.

“This strengthened collaboration has resulted in the creation of the new Country Partnership Framework (CPF) 2026-2035, a groundbreaking ten-year strategy supported by an unprecedented $40 billion commitment from the World Bank,” the statement noted.

Cheema conveyed profound gratitude for the World Bank’s assistance, notably during times of severe adversity, encompassing the COVID-19 pandemic and the calamitous floods of 2022.

“As our foremost development ally, the World Bank has been vital in Pakistan’s socio-economic advancement and enhancing the well-being of our populace,” Cheema remarked.

With the CPF now officially underway, Cheema underscored the government’s unwavering commitment to finalizing a detailed implementation plan in partnership with the World Bank to guarantee the strategy realizes its maximum potential.

He welcomed Pakistan’s transition to the World Bank’s Middle East and North Africa (MENA) Region, under the guidance of Vice President Ousmane Dione, emphasizing that this transition will foster significant prospects for knowledge dissemination and regional collaboration.

In a separate discussion with Abdelhak Bedjaoui, World Bank Executive Director, Cheema recognized his impactful representation of Pakistan’s financial concerns.

The minister suggested that executive directors should undertake regular visits to constituent nations to gain a deeper understanding of developmental needs and avenues for World Bank involvement.

“The discussions also brought attention to recent approvals by the World Bank, including the $700 million Reko Diq mining initiative and the $400 million Risk Participation Facility, both of which advanced despite opposition,” the EAD statement clarified.

Cheema reaffirmed Pakistan’s dedication to working closely with the World Bank country team to accomplish the CPF’s ambitious developmental goals and transformative impacts.