Islamabad
The collaborative efforts between the World Bank (WB), International Finance Corporation (IFC), and the Pakistani government underscore a commitment to fostering sustainable development and economic growth in the country. By leveraging the expertise and resources of international financial institutions, Pakistan aims to address key developmental challenges and enhance financial stability.
The World Bank (WB) and International Finance Corporation (IFC) here on Monday (April 1) expressed resolve to continue support for Pakistan’s development goals and agendas for the welfare of the people of Pakistan as per reported in APP.
The Minister for Finance and Revenue, Muhammad Aurangzeb, was called on by WB Country Director, Najy Benhassine and Country Manager of International Finance Corporation (IFC), Zeeshan Ahmed Sheikh, according to press statement issued by finance ministry. During the meeting, discussions focused on strategies to promote economic growth, enhance financial stability, and foster sustainable development. Emphasising the importance of partnerships with institutions like the WB and IFC, the participants highlighted the need to tap into their expertise and resources to advance the country’s development agenda.
The government’s commitment to creating an enabling environment for private sector investment and ensuring transparency and accountability in financial matters was reiterated. Efforts aimed at reforming economic and financial sectors, such as expanding the tax base, restructuring state-owned enterprises, and privatisation, were also recognised and appreciated by WB and IFC representatives.
Furthermore, potential areas of cooperation and investment opportunities in sectors such as agriculture, power, and information technology were explored, indicating a holistic approach to economic development and job creation in Pakistan. Overall, the continued support and collaboration between the Pakistani government and international financial institutions signal a positive trajectory towards achieving the country’s development goals and improving the welfare of its people.