PM Shehbaz, World Bank chief push faster rollout of reform linked projects

Prime Minister Shehbaz Sharif on Monday stressed the need to accelerate implementation of World Bank supported development programmes, saying timely execution was critical to sustaining reforms, unlocking job creation, and strengthening investor confidence.

The prime minister said the government was pursuing a multi pronged, home grown structural reform agenda aimed at achieving long term economic stability, and reaffirmed its commitment to reforms designed to deliver job rich growth.

He acknowledged the World Bank Group’s role in supporting Pakistan’s economic development and reform efforts, particularly through the 10 year World Bank Group Country Partnership Framework (CPF).

Shehbaz Sharif also appreciated the World Bank Group’s support in priority sectors, including resilient infrastructure, agribusiness, digital development, energy, human capital, fiscal reforms, and measures to increase productive private investment.

He said stronger oversight and faster execution of CPF aligned initiatives were needed to address implementation bottlenecks in development projects and ensure impact at scale.

The remarks were made during a meeting with World Bank Group President Ajay Banga, who called on the prime minister at the PM House during his first official visit to Pakistan.

The prime minister also acknowledged Ajay Banga’s leadership in repositioning the World Bank Group as a more effective development partner.

Ajay Banga thanked the prime minister for the reception and hospitality and commended Pakistan’s ongoing reform efforts. He reaffirmed the World Bank Group’s commitment to deepening cooperation through a One World Bank Group approach.

He said greater mobilisation of private resources, alongside close coordination with development partners, would be necessary to meet the scale and ambition of the government’s reform agenda.