WB acknowledges economic stability in Pakistan
Business
The WB in an announcement last month, had revealed the plan of doling out $20 billion in lending
ISLAMABAD (Dunya News) – Acknowledging the efforts of the government to bring economic stability, the World Bank (WB) announced on Friday that economic stability was “taking hold” in the cash-strapped country.
The WB in an announcement last month, had revealed the plan of doling out $20 billion in development lending to Pakistan under the new Country Partnership Framework.
According to the official announcement by the global lender, the funding would be directed towards areas such as clean energy and climate resilience from 2026 onwards.
Najy Benhassine, who is currently serving as the World Bank’s Country Director for Pakistan, said in a video message on X, “This is an important moment for the partnership between the World Bank Group and Pakistan as we engage on this journey at a particular moment for Pakistan where stabilization is taking hold and there are new ambitions and new plans for development on the long term that are very aligned with the priorities of the World Bank Group in the country.”
He went onto say, “This is a groundbreaking joint commitment with the government of Pakistan both at the federal and provincial level to commit to focus on six of the most acute development challenges that the country is facing.”
