Pakistan PM, World Bank chief discuss $40B support at UN sidelines
Shehbaz also met IMF chief Kristalina Georgieva, stressed impacts of floods should be factored into reviews
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A collage of World Bank chief Ajay Banga and Pakistan's Prime Minister Shehbaz Sharif
World Bank financing key projects including Dassu hydropower project
Banga praises Pakistan's reform efforts
Pakistan’s Prime Minister Shehbaz Sharif met World Bank Group President Ajay Banga on Tuesday on the sidelines of the United Nations General Assembly.
The two discussed the Bank’s long-term support for Pakistan, including a $40 billion commitment under its new Country Partnership Framework.
Sharif thanked Banga for what he called the bank’s “timely” support during the COVID-19 pandemic and Pakistan’s devastating 2022 floods, according to a statement from the Prime Minister's Office.
He also welcomed the new framework, which will run from 2026 to 2035 and prioritize education, health, clean energy, social protection and climate resilience in coordination with provincial governments.
“Pakistan’s comprehensive reform agenda has steered the economy toward stabilization, restored investor confidence and promoted inclusive growth,” Sharif said.
He pointed to energy reforms, privatization and resource mobilization as key areas of progress.
Banga praised Pakistan’s reform efforts and reaffirmed the World Bank’s commitment to back its development priorities, particularly through mobilizing private capital.
Major World Bank projects
The bank is already financing several major projects across Pakistan.
The Dasu Hydropower Project in the country's northwestern Khyber Pakhtunkhwa province is set to generate more than 4,000 megawatts of electricity.
In the southern Sindh province, projects are under way to rehabilitate the Guddu and Sukkur barrages, overhaul megacity Karachi’s water and sewerage system and build the Yellow Line bus rapid transit network.
Meeting IMF chief
Later Tuesday, Sharif met International Monetary Fund Managing Director Kristalina Georgieva.
He said Pakistan was meeting targets under the IMF program but stressed that the impact of the recent floods must be factored into reviews.
Georgieva expressed sympathy for flood-hit communities and reiterated the fund’s support for Pakistan’s reform agenda.
The meetings in New York come as Pakistan remains under a $7 billion IMF program.
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