In meeting with PM Shehbaz, WB president lauds govt's reform efforts

• Shehbaz, Banga stress fast-track reform implementation.
• PM highlights focus on homegrown economic programme.
• Ajay Banga pledges deeper One World Bank cooperation.

Prime Minister Shehbaz Sharif on Monday acknowledged the World Bank Group's valuable support which had been instrumental in advancing Pakistan's economic development and reforms.

He was talking to WBG President Ajay Banga who called on him at the PM House.

The prime minister welcomed Banga on his first official visit to Pakistan as president of the World Bank Group.

PM Shehbaz appreciated the World Bank Group for its long-standing partnership with Pakistan and its commitment to supporting the development priorities of the country especially through the 10-year World Bank Group Country Partnership Framework (CPF).

The premier also appreciated Banga's leadership in transforming the World Bank Group into more impactful development partner.

He stated that the government was vigorously working on economic reform agenda with multi-pronged comprehensive structural homegrown programme aimed at sustainable economic stability.

The prime minister appreciated the support of the World Bank Group in resilient infrastructure, agribusiness, digital development, energy, human capital, fiscal reforms, and increasing productive private investment for job creation and growth.

PM Shehbaz and Banga reiterated the need to fast-track implementation and ensure strong oversight to deliver impact at speed and scale on CPF-aligned priorities.

These measures would duly assist the prime minister’s initiative to address and resolve Implementation Bottlenecks in development projects.

The prime minister expressed the government's commitment to structural reforms that would unlock job-rich growth and further strengthen investors' confidence.

Banga expressed his gratitude to the prime minister for his reception and hospitality in Pakistan.

He commended the Pakistani government's ongoing reform efforts and reaffirmed his commitment to deepening cooperation through a One World Bank Group approach.

He added that greater leverage of private resources, in addition to strong coordination with development partners, was necessary to meet the ambition of the government's reform agenda.