Islamabad: World Bank President Ajay Banga met with Prime Minister Shehbaz Sharif in New York and pledged an unprecedented $40 billion to support Pakistan’s development agenda under a new Country Partnership Framework (2026–2035). Sharif lauded the Bank’s enduring assistance, particularly during the COVID-19 crisis and the destructive 2022 floods.

The Prime Minister briefed Banga on the government’s wide-ranging economic overhaul program. This program includes initiatives for resource gathering, improvements to the energy sector, privatization, and steps to enhance resistance to climate change. He stated that these reforms have guided Pakistan toward macroeconomic stability, revived investor trust, and fostered sustainable and inclusive economic expansion.

Sharif expressed gratitude for the World Bank’s new Country Partnership Framework and the substantial financial commitment it entails. He confirmed Pakistan’s dedication to ensuring the framework’s successful execution in collaboration with regional administrations.

Banga acknowledged the reform initiatives undertaken by Pakistan. He reaffirmed the World Bank’s dedication to supporting the nation’s developmental goals. He highlighted the institution’s willingness to provide continued assistance for progressing economic alterations and implementing lasting climate resilience projects under the new CPF. Both parties reiterated their commitment to strengthening cooperation under the CPF to advance Pakistan’s developmental priorities.