January 23, 2025 (MLN): In the wake of the successful launch of Pakistan’s new Country Partnership Framework (CPF) for FY26-35, a pivotal meeting was held between Mr. Ahad Cheema, the Minister for Economic Affairs of Pakistan, and Mr. Martin Raiser, the World Bank Vice President for South Asia.
The meeting provided an opportunity for both leaders to discuss in detail the framework's next steps, its implementation, and the critical role of collaboration in achieving Pakistan’s long-term development objectives.
Mr. Cheema emphasized that the new CPF signifies a significant milestone in the Pakistan-World Bank partnership, according to the press release.
This framework, with an unprecedented $ 20 billion commitment over the next decade, will play a crucial role in tackling the country's pressing economic challenges.
The CPF focuses on six transformative outcomes, including improving education quality, tackling child stunting, boosting climate resilience, enhancing energy efficiency, fostering inclusive development, and increasing private investment.
This framework is designed to serve as a comprehensive roadmap for Pakistan's growth.
During the meeting, Mr. Cheema emphasized the importance of swift and effective execution, stressing that the partnership between Pakistan and the World Bank must be backed by concrete actions.
He discussed the government’s vision for the implementation of the CPF, which is aligned with Pakistan’s broader economic strategy, including the "Uraan Pakistan: Homegrown National Economic Transformation Plan."
Mr. Raiser, in his remarks, highlighted the World Bank’s continued commitment to supporting Pakistan’s development agenda.
He expressed his confidence in the CPF’s ability to bring about lasting improvements and assured Mr. Cheema that the World Bank is ready to provide the necessary technical, financial, and advisory support to ensure the success of the framework.
Mr. Raiser also emphasized the importance of monitoring and adapting the framework’s progress to meet emerging challenges and opportunities.
The two leaders also discussed the need to address key challenges in project implementation, such as land acquisition, project start-up delays, and ensuring compliance with social safeguards.
Mr. Cheema stressed that effective coordination between the World Bank and other development partners, as well as streamlined approval processes, would be essential to overcome these hurdles.
Mr. Cheema further called on the World Bank to enhance Pakistan’s allocation of concessional resources under the IDA-21 framework, especially in support of climate change mitigation and foreign debt management.
Both leaders agreed that ensuring timely and efficient deployment of resources is critical to achieving the CPF’s objectives.
Mr. Raiser commended the leadership and dedication of Mr. Cheema, as well as the entire Pakistani economic team, for their proactive efforts in shaping the CPF and driving the country’s development agenda.
He noted that the success of the CPF would not only benefit Pakistan but could also set a positive example for other countries in the region.
As both sides look ahead, they expressed their shared commitment to strengthening the partnership further and ensuring that the CPF achieves tangible results for Pakistan’s growth and prosperity.
Copyright Mettis Link News
Posted on: 2025-01-23T17:49:11+05:00
