World Bank president to visit Pakistan in November

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ISLAMABAD: World Bank Country Director Patchamuthu Illangovan on Thursday informed Adviser to Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh that WB President David Malpass would visit Pakistan in the first week of November.

Accompanied by his team, Illangovan conveyed a strong desire from the World Bank management to work with Pakistan to drive institutional reforms and support the growth agenda of the government. “The bank would be providing any technical or financial assistance required in this regard,” he added.

The official told the adviser that the World Bank could work on any financial arrangement, looking at the objective need and assessment of the policy matrix as the bank was very supportive of the institutional reforms being undertaken by the government of Pakistan in different sectors of the economy. He also briefed the adviser on ongoing discussions with the Ministry of Finance on two policy-based lending operations to provide budgetary support to Pakistan, which would be finalised by December 2019.

Besides, issues related to World Bank’s ongoing portfolio of $9 billion as well as firming up of Pakistan’s delegation to attend the annual meetings of International Monetary Fund/World Bank Group during October 2019, also came under discussion.

Dr Abdul Hafeez Shaikh welcomed World Bank President’s upcoming visit to Pakistan and hoped the visit would lead to opening of greater avenues for productive engagement between the World Bank and Pakistan.

“Pakistan is pursuing a growth-oriented programme for institutional reforms and economic revival,” the adviser said, adding that technical and financial assistance from the bank was vital for achieving various development goals in different sectors of economy.

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