Ahad Cheema meets WB executives to strengthen economic ties

WASHINGTON: Federal Minister for Economic Affairs, Ahad Cheema, held important meetings with senior leadership of the World Bank during his official visit to the United States.

The minister met in detail with the World Bank’s Managing Director for Operations, Anna Bjerde, and Vice President for South Asia, Martin Raiser.

Ahad Cheema appreciated the growing cooperation between Pakistan and the World Bank Group over the past year, which has culminated in the Country Partnership Framework—a 10-year strategic plan under which the World Bank will provide a historic support package worth USD 40 billion.

The Federal Minister also met with the World Bank’s Executive Director Abdul Haq Bajawi and suggested that the executive directors should make regular visits to the member states to better understand their development needs and possible partnerships.

The meetings also included discussions on recent World Bank approvals, notably the $700 million Reko Diq mining project and the $400 million Risk Participation Facility. Despite certain reservations, both initiatives have progressed.

Federal Minister Ahad Cheema said that as Pakistan’s biggest development partner, the World Bank, has played a key role in our economic and social development and the welfare of the people.