Washington: Finance Minister Mr. Muhammad Aurangzeb met with Ms. Anna Bjerde, Managing Director of Operations at the World Bank, to discuss ongoing and future development projects in Pakistan. The discussions focused on the Country Partnership Framework, the Joint Domestic Resource Mobilization Initiative, and enhancements to project financing mechanisms.

According to Press Information Department, Mr. Aurangzeb briefed Ms. Bjerde on the initiatives like the Joint Domestic Resource Mobilization Initiative, which has been launched with support from both the World Bank and the IMF. He expressed his approval of the World Bank’s decision to waive commitment fees for PforR and Investment Project Financing instruments for the next four years and discussed the introduction of a new grant facility for project preparation. The Minister also acknowledged the smooth progress of IDA replenishment and emphasized the importance of sustained improvements in fund disbursements.

The meeting concluded with an agreement to continue collaboration on these fronts, and Mr. Aurangzeb requested additional World Bank support for capacity-building workshops aimed at enhancing the efficiency of project implementation by local agencies.