World Bank to enhance cooperation with Pakistan

VP says cooperation for long-term development will be optimised in years to come

WASHINGTON:

The World Bank has reiterated its commitment to enhancing long-term development in Pakistan through cooperation in the renewable energy sector, particularly in hydro and solar power.

This was announced by Martin Raiser, Vice President for the South Asia Region of the international development and climate institution, during a meeting with Pakistan’s Ambassador to the United States, Masood Khan.

According to a press statement released by the Pakistani Embassy, Raiser emphasised that this cooperation would be optimised in the years to come. The meeting centred on advancing cooperation between Pakistan and the World Bank in the development and climate response sectors.

Last October, Raiser co-chaired a high-level round-table with the United Kingdom on how to respond to the impacts of catastrophic floods in Pakistan on the sidelines of the 2022 Annual Meetings of the World Bank and the International Monetary Fund. In September 2022, he visited Pakistan and reaffirmed the bank’s commitment to support the flood-hit Pakistani people.

The ambassador expressed gratitude to the World Bank for its contribution of $2 billion towards flood recovery, rehabilitation, and reconstruction during the International Conference on Climate Resilient Pakistan in Geneva. This contribution will cover support for housing, water and agriculture, social protection, and health, among other areas.

He added, “The World Bank has been a resolute development partner of Pakistan.”

The Pakistani envoy requested the bank for additional financing and assistance for health-related projects, especially for addressing the issue of water-borne diseases in flood-affected areas.

Published in The Express Tribune, March 15^th, 2023.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.