ISLAMABAD: Prime Minister Shehbaz Sharif launched World Bank’s Country Partnership Framework (CPF) for Pakistan at a ceremony held in Islamabad on Thursday.
Speaking on the occasion, he said today is a great day in the history of Pakistan in terms of very strong relationship with the World Bank (WB), according to Radion Pakistan.
The prime minister said the World Bank has supported Pakistan over a period of time. He said very important projects were built in the country with the World Bank’s support, ranging from hydel power generation in the water sector, and reforming various important organizations like Federal Board of Revenue.
Read More: OGRA, FBR launch ‘Raahguzar’ to combat illegal petrol outlets in Pakistan
The prime minister said the CPF, spanning over 10-year with an amount of $20 billion, is a vision to transforming Pakistan’s economy, building climate resilient projects, alleviating poverty and unemployment and promoting digitization, agriculture and IT-led initiatives.
The prime minister thanked the WB team particularly its president Ajay Banga, vice president for South Asia Martin Raiser on behalf of the government of Pakistan for coming out with the innovative programme.
He said the presence of the vice president of the bank in the ceremony was a message to the people of Pakistan that the WB has faith in Pakistan’s system, which is now attaining vibrancy and has become very functional and operational, undertaking deep rooted structural changes. He said this vision is very timely intervention to address all the issues which the country has been facing.
The premier lauded the efforts of the World Bank’s vice president Martin Raiser, who is a German national. He appreciated Martin in his native German language.
Speaking on the occasion, minister for economic affairs Ahad Khan Cheema acknowledged the role of the WB in the development of Pakistan for the past many decades.
The minister said the WB always supported key sectors of Pakistan’s economy and has accumulatively granted loans and grants to boost the economic infrastructure of the country.
Appreciating the World Bank’s initiative of CPF for Pakistan, he said the bank will provide around $20 billion during the next 10-year for uplifting the social sectors. He said approval of such a huge amount is a testimony of trust between the World Bank and Pakistan.
Ahad Khan Cheema commended the role and vision of prime minister Shehbaz Sharif in preparation and materializing of this program.