The World Bank reaffirmed its unwavering support for Pakistan’s reform and digitalization endeavors aimed at stabilizing the economy and boosting revenues. This assurance was conveyed during a meeting between Finance Minister Muhammad Aurangzeb and World Bank Group President Ajay Banga in Washington. Minister Aurangzeb highlighted Pakistan’s advancements under the nine-month Stand-By Arrangement program, emphasizing ongoing reforms in critical sectors such as taxation, energy, and privatization. Both parties agreed on the implementation of a Country Framework Plan spanning ten years. Additionally, the World Bank President pledged full support for Pakistan’s reform and digitalization initiatives.
The Finance Minister extended an invitation to the World Bank President to visit Pakistan, further reinforcing bilateral cooperation. Concurrently, discussions between the Finance Minister and the President of the Asian Development Bank, Masatsugu Asakawa, centered on enhancing the partnership between Pakistan and the Asian Development Bank, safeguarding the country’s access to concessional financing, and fostering future project pipelines.
