Islamabad: Prime Minister Muhammad Shehbaz Sharif today unveiled the World Bank’s Country Partnership Framework (CPF) for Pakistan, marking a significant step in the ongoing collaboration between the two entities. The $20 billion initiative aims to transform Pakistan’s economy over the next decade by focusing on climate resilience, poverty alleviation, and digital advancement.

According to a statement by Ministry of Information and Broadcasting, the launch ceremony highlighted the World Bank’s long-standing support for Pakistan, with projects ranging from hydropower generation to organizational reforms. Prime Minister Sharif emphasized the CPF’s role in addressing current economic challenges and thanked World Bank President Ajay Banga and Vice President for South Asia Martin Raiser for their innovative approach.

The framework is seen as a strategic vision to enhance Pakistan’s economic stability. Prime Minister Sharif noted that the presence of the World Bank’s Vice President at the ceremony underscores the institution’s confidence in Pakistan’s evolving system, which he described as vibrant and operationally functional.

Minister for Economic Affairs Ahad Khan Cheema also spoke at the event, acknowledging the World Bank’s contributions to Pakistan’s development over the decades. He noted that the CPF’s approval represents a significant vote of confidence in Pakistan from the World Bank, with plans to invest heavily in social sectors.

Cheema praised Prime Minister Sharif’s leadership in conceptualizing the program, underscoring the importance of this collaboration for Pakistan’s future growth and stability.