Federal Minister for Finance and Revenue Muhammad Aurangzeb met with the World Bank’s Pakistan team on Friday, including Najy Benhassine, the outgoing Country Director, and Bolormaa Amgaabazar, who has been appointed as his successor. The meeting marked a continuation of Pakistan’s longstanding engagement with the World Bank and underscored the importance of continuity and cooperation in development efforts.
Aurangzeb welcomed Bolormaa Amgaabazar to Pakistan and extended his best wishes as she assumes her new role. He expressed confidence that Pakistan’s collaboration with the World Bank would continue to strengthen under her leadership, especially in light of the country’s ongoing economic reforms and development priorities.
He also took the opportunity to commend Najy Benhassine for his support and contributions during his tenure, particularly in reinforcing the development partnership between the World Bank and the Government of Pakistan. The minister acknowledged Benhassine’s role in providing valuable financial and technical assistance across several critical sectors and wished him success in his future engagements.
During the discussion, Aurangzeb highlighted the significance of the newly signed 10-year Country Partnership Framework (CPF), which outlines the strategic direction of the World Bank’s engagement in Pakistan. He noted that successful implementation of the CPF, particularly its Country Financing Framework (CFF), was crucial for unlocking the full potential of the bank’s support and delivering meaningful transformation in key sectors such as energy, infrastructure, human development, and climate resilience.
The minister praised the institutional and technical backing extended by the World Bank and stressed the need for development finance to be driven by merit and objective assessments rather than political considerations. This approach, he argued, was vital for ensuring sustainable progress.
Aurangzeb also referenced the recent completion of the International Monetary Fund’s review, which led to a $1 billion disbursement under the Extended Fund Facility (EFF). He noted that additional resources had also been secured through the Resilience and Sustainability Facility (RSF), further strengthening Pakistan’s economic buffer.
The meeting concluded with both sides reaffirming their shared commitment to strengthening Pakistan’s economic resilience and promoting inclusive growth through deeper and more strategic partnerships.
