World Bank reaffirms commitment to $40bn CPF with Pakistan
Pakistan and the World Bank reaffirmed their development partnership during high-level consultations in Washington, D.C., with both sides committing to the effective implementation of the newly launched $40 billion Country Partnership Framework (CPF) 2026–2035.
The development came during a meeting between Federal Minister for Economic Affairs Ahad Khan Cheema, during his official visit to the United States, with senior World Bank leadership, read a statement released by the Economic Affairs Division (EAD) on Friday.
'In a productive meeting with Anna Bjerde, Managing Director for operations, and Martin Raiser, South Asia Regional Vice President, Cheema applauded the strengthened collaboration between Pakistan and the World Bank Group over the past year.
'This enhanced engagement has culminated in the development of the new Country Partnership Framework (CPF) 2026-2035, a transformative ten-year strategy backed by an unprecedented $40 billion commitment from the World Bank,' read the statement.
World Bank's Benhassine lauds Pakistan's economic turnaround
Cheema, during the meeting, expressed deep appreciation for the World Bank's support, particularly during critical challenges, including the COVID-19 pandemic and devastating 2022 floods.
'As our largest development partner, the World Bank has played an indispensable role in Pakistan's socio-economic progress and improving the lives of our citizens,' stated Cheema.
With the CPF now successfully launched, Cheema emphasized the government's complete focus on finalizing a comprehensive implementation framework in collaboration with the World Bank to ensure the strategy delivers its full potential.
He welcomed Pakistan's transition to the World Bank's Middle East and North Africa (MENA) Region under Vice President Ousmane Dione, noting this move will create valuable opportunities for knowledge exchange and regional synergy.
Meanwhile, in a separate meeting with Abdelhak Bedjaoui, World Bank Executive Director, Cheema acknowledged his effective representation of Pakistan's economic interests.
The minister proposed regular visits by executive directors to constituency countries to better understand development needs and opportunities for World Bank engagement.
'The discussions also highlighted recent World Bank approvals, including the $700 million Reko Diq mining project and $400 million Risk Participation Facility, which moved forward despite objections,' read the EAD's statement.
Cheema reaffirmed Pakistan's commitment to working closely with the World Bank country team to achieve the CPF's ambitious development objectives and transformational impacts.
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