Prime Minister Muhammad Shehbaz Sharif met Mr. Ajay Banga, President of the World Bank Group (WBG), on the sidelines of the 80th Session of the United Nations General Assembly.
The Prime Minister appreciated Mr. Banga’s leadership in transforming the World Bank into a faster, more efficient and impactful development partner, with renewed focus on simplifying operations and mobilizing private sector resources. He lauded the Bank’s long-standing support to Pakistan, particularly during the COVID-19 pandemic and the devastating 2022 floods.
Apprising the World Bank President of the Government’s comprehensive reform agenda, the Prime Minister underlined resource mobilization, energy sector reforms, privatization and measures to build resilience against climate change. He reiterated that the reform agenda had steered Pakistan towards macroeconomic stabilization, restored investor confidence and promoted sustainable and inclusive economic growth.
The Prime Minister expressed appreciation for the World Bank’s new Country Partnership Framework (2026–2035), under which the World Bank has committed an unprecedented US\$ 40 billion for Pakistan. He reaffirmed Pakistan’s commitment to ensure its effective implementation in close coordination with provincial governments.
President Banga appreciated the reform measures being undertaken by Pakistan and reaffirmed the Bank’s commitment to Pakistan’s development agenda. He emphasized the Bank’s readiness to extend continued support for advancing economic reforms and undertaking long-term initiatives on climate resilience under the new CPF.
Both sides reiterated their resolve to further strengthen cooperation under the Country Partnership Framework in order to advance Pakistan’s development priorities.
