World Bank unveils $40bn investment plan for Pakistan

The World Bank has announced a landmark investment of $40 billion in Pakistan between 2026 and 2035 under its newly introduced 10-year Country Partnership Framework (CPF), marking a significant shift from its previous five-year strategy model.

According to official documents, Pakistan’s Ministry of Economic Affairs has initiated the development of a comprehensive implementation framework in line with the government’s priorities and the National Economic Transformation Plan, Uraan Pakistan.

In the first phase of this long-term partnership, Pakistan is set to receive $20 billion in sovereign loans through the World Bank’s International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). The funding will be directed toward vital sectors such as education, healthcare, clean energy, climate change mitigation, and air quality enhancement.

The framework also aims to accelerate private sector participation and sustainable development across the country. The International Finance Corporation (IFC), a member of the World Bank Group, will facilitate an additional $20 billion in private investment to stimulate economic growth and job creation.

Earlier in April, the World Bank approved an additional $108 million for two key development projects in Khyber Pakhtunkhwa (KP). This includes $78 million for the Khyber Pakhtunkhwa Rural Accessibility Project (KPRAP) and $30 million for the Khyber Pakhtunkhwa Integrated Tourism Development Project (KITE). These projects are designed to improve access to essential services like health and education, while also enhancing market connectivity and disaster resilience.

Commenting on the initiative, WB Country Director for Pakistan Najy Benhassine stated, “By rehabilitating critical rural road infrastructure and enhancing disaster preparedness, the KPRAP and KITE projects are improving access to vital services and creating economic and climate resilience along with job opportunities for local communities.”

[ad_1]

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}

[ad_2]