Pakistan, World Bank agree to strengthen development cooperation and climate goals

ISLAMABAD (Dunya News) - Pakistan and the World Bank have agreed to strengthen development cooperation, focusing on economic stability, climate goals, and sectoral reforms.

The announcement came following a meeting between Finance Minister Senator Muhammad Aurangzeb and the World Bank Country Director, where assurances were given for continued support in Pakistan’s stability and climate objectives.

During the meeting, both sides discussed detailed reform priorities under the Country Partnership Framework (CPF).

Key areas of focus included human capital, population management, climate change, and the agricultural sector.

Minister Aurangzeb emphasized effective implementation of CPF initiatives and highlighted the need for strong coordination between federal and provincial governments, alongside active participation of federal ministries in policymaking and execution.

The meeting also underscored the importance of transparency and enhanced monitoring mechanisms in development projects.

World Bank reaffirms support for Pakistan's $20bn, 10-year development programme

Discussions explored increasing agricultural productivity and improving value chains, while encouraging private sector participation and broader access to agricultural finance.

The World Bank and the International Finance Corporation (IFC) reaffirmed their support for Pakistan’s agricultural reforms.

Energy sector reforms and financial sustainability were also discussed, along with agreement to continue technical-level negotiations.

Both parties reaffirmed commitment to strengthening Pakistan’s economic resilience and advancing climate-related objectives.

The Finance Ministry stated that the government reiterated its resolve to pursue structural reforms and enhance governance as part of ongoing development collaboration with the World Bank.