PM, World Bank discuss accelerating CPF project delivery

Talks with Ajay Banga focus on execution delays, private investment and CPF-aligned priorities

ISLAMABAD:

Ajay Banga, President of the World Bank Group, called on Prime Minister Muhammad Shehbaz Sharif in Islamabad on Monday, with both sides emphasising the need to fast-track implementation of reform-linked development projects and strengthen oversight to ensure timely results.

The prime minister welcomed Banga on his first official visit to Pakistan as president of the World Bank Group. According to an official statement, the premier appreciated the World Bank Group's long-standing partnership with Pakistan and its continued support for the country's development priorities, particularly through the 10-year World Bank Group Country Partnership Framework (CPF).

The prime minister said the government was vigorously pursuing an economic reform agenda under a multi-pronged, comprehensive and home-grown programme aimed at achieving sustainable economic stability. He also acknowledged the World Bank Group's support across key areas, including resilient infrastructure, agribusiness, digital development, energy, human capital development, fiscal reforms and efforts to increase productive private investment to generate jobs and support economic growth.

Both leaders reiterated the importance of accelerating implementation and ensuring strong oversight to deliver impact at speed and scale on CPF-aligned priorities. The measures, they noted, would support the prime minister's initiative to identify and resolve implementation bottlenecks in development projects.

Banga thanked the prime minister for the reception and hospitality extended during his visit and commended the government's ongoing reform efforts. He reaffirmed his commitment to deepening cooperation with Pakistan through a One World Bank Group approach. He added that greater mobilisation of private resources, alongside close coordination with development partners, would be essential to meet the scale and ambition of the government's reform agenda.