Washington: The World Bank Group announced a new 10-year Country Partnership Framework (CPF) for Pakistan, aimed at promoting sustainable development by focusing on human capital, private sector growth, and resilience against economic, social, and environmental challenges.

According to a statement by The World Bank, the framework seeks to tackle critical issues such as child stunting, learning poverty, climate change impacts, and energy sector sustainability. Najy Benhassine, World Bank Country Director for Pakistan, emphasized the importance of policy and institutional reforms to enable private sector-led growth and create fiscal space for necessary investments.

The CPF outlines six main objectives, including reducing child stunting, improving foundational education, enhancing resilience to climate-related disasters, promoting sustainable energy, managing public expenditures more effectively, and boosting private investment to improve trade balances and growth.

Key interventions will address social safety nets and financial inclusion to support vulnerable groups, with a focus on women. Efforts will also enhance digital and transport connectivity, leveraging resources through private sector engagement and coordination with development partners.

Zeeshan Sheikh, IFC Country Manager for Pakistan and Afghanistan, highlighted the focus on investments in energy, water, agriculture, finance, manufacturing, and digital infrastructure to spur sustainable growth and job creation. The Multilateral Investment Guarantee Agency will support private investments aligned with the CPF’s development outcomes.

The framework was informed by policy notes, consultations with various stakeholders, and alignment with Pakistan’s economic priorities, including the National Economic Transformation Plan and the Prime Minister’s Economic Transformation Agenda.

Since 1950, the World Bank Group has provided significant financial assistance and investment in Pakistan, with a current portfolio of 106 projects and a total commitment of $17 billion, reflecting a long-standing partnership with the country.