The World Bank’s Board of Directors has approved Pakistan’s first-ever 10-year Country Partnership Framework (CPF), a landmark agreement that promises to provide $20 billion for the country’s development. The framework was approved by 19 out of 24 members of the Board, marking the largest financial commitment ever made to Pakistan by the institution. This ambitious initiative aims to address key challenges and propel the country toward sustainable economic growth.
The CPF will focus on six critical development areas, with a robust monitoring and evaluation system in place to ensure that progress is tracked effectively. The World Bank’s investment will be split between the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD), with approximately three-fourths of the funding coming from IDA. The remaining funds will be channeled through IBRD, ensuring a comprehensive approach to Pakistan’s development.
Some of the key areas of focus for the CPF include reducing child stunting, tackling climate change, improving educational outcomes, providing clean water, and driving private investment to support long-term development. The International Finance Corporation (IFC), a key component of the World Bank Group, will also provide additional support for these initiatives.
The agreement outlines ambitious targets for Pakistan’s development over the next decade. Specific goals include raising tax revenue to more than 15% of the nation’s GDP, adding 10 gigawatts of renewable energy capacity to the grid, and providing quality education to 12 million students. In the healthcare sector, the CPF aims to deliver services to 50 million people, while also ensuring that 60 million people gain access to safe drinking water and sanitation facilities.
Food security is another priority, with the framework aiming to strengthen food security for 30 million individuals. Additionally, it seeks to increase access to family planning services for 30 million women, helping improve reproductive health outcomes across the country. The CPF also includes measures to address flood and disaster risks, benefiting an estimated 75 million people, which is particularly critical given the country’s vulnerability to climate-related hazards.
The World Bank’s commitment underscores the importance of long-term, sustainable development, and the CPF is designed to create positive, far-reaching impacts for Pakistan’s population. Through targeted investments and a focus on empowering citizens, the framework aims to transform Pakistan’s development trajectory, enhancing prosperity and resilience for future generations.
This unprecedented partnership between Pakistan and the World Bank marks a new chapter in the country’s economic development, setting the stage for transformative change in critical areas that will benefit millions of people across the nation.