TLTP
\nISLAMABAD
\nThe World Bank (WB) has agreed to enhance assistance for Pakistan to support the ongoing reforms, besides balancing a mix between project mode of financing and programme lending.
\nThis assurance was expressed when a high-level Pakistan delegation led by Minister for Economic Affairs Khusro Bakhtyar held two consecutive sideline virtual meetings with the senior management of World Bank Group convened at the margins of 2020-Annual Meetings of the IMF and the World Bank Group. Other Members of Pakistan delegation including Special Assistant to Prime Minister on Petroleum Nadeem babar, governor and high ranking officials of Economic Affairs Division, Finance Division, FBR and Pakistan Embassy in USA.<\/p>\n
At the onset, Hartwig Schafer, Vice President of World Bank Group for South Asia Region, appreciated the government initiatives to successfully combat and curtail the impact of Covid-19 pandemic. He also appreciated the government\u2019s ongoing reform efforts, particularly in the power, governance and financial sectors, that would possibly allow Pakistan to unleash the growth potential and help a faster post COVID-19 recovery.<\/p>\n
The Vice President confirmed WB\u2019s continuous support to the government of Pakistan at this difficult time. The two sides also discussed the performance of the WB ongoing portfolio in Pakistan besides the probable WB initiatives in the near future. <\/p>\n
Bakhtyar while appreciating the WB\u2019s continuous support to Pakistan, assured the WB delegation that the government is committed to continue structural reforms in multiple areas of economy, governance and institutions including simplification of decision making for project approval & implementation and regular portfolio review of foreign aided projects. <\/p>\n
Bakhtyar appreciated the WBG\u2019s proposed US $12 billion initiative to help developing countries procure COVID-19 vaccines to treat up to 1 billion people as soon as effective drugs become available. Hartwig assured due support to Pakistan under this initiative.<\/p>\n
Hartwig, while responding to a proposal of Bakhtyar, amenably agreed to enhance WB assistance for Pakistan to support the ongoing reforms, besides balancing a mix between project mode of financing and programme lending.<\/p>\n
Bakhtyar, during his meeting discussions with Alfonso Garcia, Regional Vice President of IFC for Asia & the Pacific, appreciated the IFC initiatives in Pakistan. He, however, stressed upon the IFC management for their enhancing investment volume in Pakistan, particularly in the infrastructure, housing and tourism sectors.<\/p>\n
He also emphasized that as the focus of present government remains on private sector-led growth, the International Finance Corporation (IFC) support for SMEs, particularly during the COVID-19 pandemic, should be the priority.<\/p>\n
Alfonso, while appreciating the government\u2019s ongoing reforms efforts, accepted the invitation of Bakhtyar to visit Pakistan in the coming months to explore avenues to further enhance the IFC interventions in Pakistan. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
TLTP ISLAMABAD The World Bank (WB) has agreed to enhance assistance for Pakistan to support the ongoing reforms, besides balancing a mix between project mode of financing and programme lending. This assurance was expressed when a high-level Pakistan delegation led by Minister for Economic Affairs Khusro Bakhtyar held two consecutive sideline virtual meetings with the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-151343","post","type-post","status-publish","format-standard","category-top-news"],"yoast_head":"\n