Islamabad, November 16, 2022 (PPI-OT):Federal Minister for Economic Affairs, Sardar Ayaz Sadiq warmly welcomed the Regional Director for the World Bank South Asia, Sustainable Development (SD), Mr. John A. Roome and Country Director World Bank, Mr. Najy Benhassine in the Ministry of Economic Affairs today. Minister for Economic Affairs appreciated the World Bank on being one of the major development partners who has extended substantial financial support (USD 31.1 billion) to Pakistan since the 1950s.
“The World Bank’s assistance has played and shall continue to play a vital role in the socio-economic uplift of Pakistan”, said Minister for Economic Affairs. He also expressed gratitude to the World Bank for its flood relief assistance to Pakistan. “We are extremely well-supported by the World Bank’s team.’’ said the Minister. He further highlighted that the World Bank interventions cover all major sectors of the economy including infrastructure, agriculture, rural and urban development, human capital, social service as well as economic growth.
The Regional Director, Mr. Roome also appreciated the facilitation and proactive role of the Ministry of Economic Affairs. Mr. Roome also discussed the World Bank’s pipeline projects for supporting post-flood rehabilitation and reconstruction activities, particularly in the province of Sindh and Balochistan, and expressed the need to push forward the implementation of these projects through effective coordination with the provinces. The Minister appreciated and stated that the Ministry has now changed its role from only facilitating the signing of agreements to now ensuring that the projects are monitored and the funds are utilized in the most optimal way.
He apprised the Regional Director that the Ministry is monitoring the projects through continuous meetings of National Coordination Committee on Foreign Funded Projects and Steering Committee for Coordination regarding International Assistance for Flood Relief Activities. While speaking on the occasion, the Secretary EAD also assured complete assistance from the Ministry in pushing forward the delayed approvals and implementations of the projects.
He stated that the Ministry has categorized the projects into three categories; – satisfactory, unsatisfactory and problematic projects, while Ministry’s special focus is on the problematic projects. He further apprised that the Ministry is working actively with the World Bank team in ensuring faster implementation of projects. The meeting ended with the vote of thanks from both sides.
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