Prime Minister Shehbaz Sharif has pledged his government’s full commitment to the effective implementation of the World Bank’s new Country Partnership Framework (CPF) 2026–2035, under which Pakistan will receive an unprecedented USD40 billion in development support. The assurance came during his meeting with World Bank Group President Ajay Banga on the sidelines of the 80th Session of the United Nations General Assembly in New York.
During the meeting, the prime minister highlighted Pakistan’s ongoing reform agenda, describing it as a comprehensive roadmap to drive long-term economic stability and growth. He outlined key areas of focus including resource mobilization, restructuring of the energy sector, privatization of state-owned entities, and building resilience against climate change. According to him, these reforms have already contributed to macroeconomic stabilization, renewed investor confidence, and laid the foundation for sustainable and inclusive growth.
Shehbaz Sharif praised the World Bank’s leadership under Ajay Banga, noting the institution’s transformation into a faster and more impactful development partner. He welcomed the Bank’s emphasis on operational efficiency, simplification of processes, and mobilization of private sector resources. He also acknowledged the longstanding support extended by the Bank to Pakistan in times of crisis, particularly during the COVID-19 pandemic and the catastrophic floods of 2022, which inflicted heavy damage on the country’s infrastructure and economy.
Ajay Banga appreciated Pakistan’s reform initiatives and reaffirmed the World Bank’s commitment to aligning with the government’s development priorities. He emphasized that under the new CPF, the Bank will not only support structural economic reforms but also play an active role in advancing climate resilience and sustainability. According to him, the partnership will aim to leverage long-term initiatives that strengthen Pakistan’s ability to withstand future climate and economic shocks.
The two leaders underscored the importance of ensuring close coordination between the federal and provincial governments to achieve the goals of the CPF. The framework is expected to channel resources into critical sectors such as energy, education, healthcare, agriculture, and climate adaptation, while also supporting the government’s privatization program to enhance efficiency and reduce fiscal pressures.
In addition to economic reforms, the prime minister stressed the importance of ensuring equitable growth that benefits citizens across all segments of society. He pointed out that the World Bank’s support under the CPF will play a critical role in delivering inclusive development outcomes, especially in sectors that directly impact the livelihoods of ordinary Pakistanis.
The meeting concluded with both sides reaffirming their resolve to deepen cooperation under the Country Partnership Framework. The commitment of USD40 billion is viewed as one of the most significant financial partnerships in Pakistan’s history, signaling strong international confidence in the country’s reform trajectory. It also positions Pakistan to better navigate its structural challenges while advancing towards long-term resilience and prosperity.
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