The President of the World Bank (WB) Dr Jim Yong Kim on Monday offered their technical and financial help in technological improvements in the renewable energy sector. According to a message from the Embassy of Pakistan, he was talking to Finance Minister Senator Mohammad Ishaq Dar who called on him during the spring meetings of The World Bank and International Monetary Fund (IMF) in Washington on Monday.
The two discussed in detail The World Bank’s portfolio in Pakistan. The Finance Minister acknowledged the role being played by the World Bank for resolving the disputes under the Indus Waters Treaty and urged expediting the process. He said the resolution of the issue “Would lead to water security in the region”.
Dar briefed President Kim about the improvement in the macroeconomic situation in the country which had been acknowledged and appreciated by the international financial institutions. Pakistan’s economy was set to grow by over 5 percent in the fiscal year ending in June 2017, he said. The focus, he said, was now on making the growth inclusive and sustainable.
For the purpose, he said the government was also focusing on the social sectors. Innovative measures, including Pakistan Development Fund and Pakistan Infrastructure Bank, were being undertaken to maintain the higher growth trajectory, he stated. On his part, President Kim congratulated the finance minister on successful completion of the IMF programme and hoped that Pakistan would continue the reform process going forward to sustain the higher growth trajectory.
Dar highlighted the potential for hydropower generation and water storage in the country and requested the World Bank’s support in undertaking hydropower projects on Indus River cascade. President Kim assured the World Bank’s continued support for projects like Dasu and Tarbela as well as other hydropower projects.
The meeting was attended by Governor SBP, Finance Secretary, Secretary EAD and Pakistan’s Executive Director in The World Bank. President Kim was accompanied in the meeting by The World Bank’s Chief Executive Officer/ Managing Director Kristalina Georgieva and other senior management.
