A delegation of nine executive administrators from the World Bank arrived in Pakistan, marking the first visit of this type in two decades.
The delegation will meet the Prime Minister, the Minister of Finance, the Minister of Planning, the Minister of Energy and the Minister of Economic Affairs to discuss the effective implementation of $ 40 billion in funding.
The delegation will discuss strategies for the effective implementation of the country’s partnership framework.
In addition, the delegation will visit the provinces to examine development initiatives and formulate strategies. The team should visit Khyber Pakhtunkhwa, Sindh, Punjab and Baloutchistan.
Previously, the Vice-President of the World Bank for South Asia, Martin Raise, said that loans of $ 20 billion will be insufficient to achieve the 10-year development objectives, and Pakistan will have to mobilize more resources To overcome his challenges.
In a press release published after a week -long visit to Pakistan, Risse seemed to balance optimism surrounding the $ 20 billion partnership framework with the real funding of Pakistan to respond to the human capital crisis.
“The support of the World Bank group will not be sufficient to achieve the ambitious objectives indicated. Attracting private sector investment by improving the business climate is therefore the need for the time,” said in a statement published by the country’s office after the end of the visit.
Meanwhile, Pakistan began preparations to obtain another $ 1.5 billion loan program at the International Monetary Fund (IMF), the negotiations planned at the latest this month.
Two IMF delegations should visit Pakistan to carry out an economic examination for the new loan program and the next tranche of the 7 billion dollars program already approved.
Total discussions will cover a combined amount of $ 2.5 billion.
According to sources, an IMF delegation will go to Pakistan on February 24 to negotiate the $ 1.5 billion loan. This new loan program would have aimed to treat the damage caused by climate change.
