Islamabad – In a major development for Pakistan’s economic future, Prime Minister Shehbaz Sharif has expressed his deep appreciation for the World Bank Group’s (WBG) newly launched Country Partnership Framework (CPF) for 2026-2035.
The CPF’s financial package includes $20 billion in sovereign lending from the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD).
Additionally, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, will mobilize another $20 billion to drive private sector investment and sustainable development in Pakistan.
During a pivotal meeting with Makhtar Diop, the Managing Director and Executive Vice President of IFC, Prime Minister Shehbaz Sharif discussed the IFC’s ongoing investment initiatives and upcoming projects in Pakistan.
Private Sector Growth in Pakistan
The discussion underscored IFC’s pivotal role in fostering private sector engagement, which is essential for Pakistan’s long-term economic growth and global competitiveness.
Sharif acknowledged IFC’s expanding investment portfolio and encouraged further collaboration in key economic areas such as:
- Infrastructure and logistics development
- Outsourcing of large airports
- Agriculture sector enhancement
- Information technology expansion
- Mining and mineral development
- Climate resilience initiatives
- Healthcare modernization
- Water and sanitation improvements
The Prime Minister urged IFC to work alongside other multilateral institutions to enhance private sector participation in national development efforts, ensuring greater economic impact and sustainability.
Prime Minister Sharif emphasized the importance of export-led economic growth, highlighting the urgent need to digitize Pakistan’s economic ecosystem.
He further stated that technological advancements and enhanced infrastructure would position Pakistan as a competitive player in the global market, particularly in agriculture, textiles, and information technology.
These initiatives are expected to enhance Pakistan’s logistical capabilities, making the country an attractive destination for regional and international trade.
IFC’s Call for Strengthening Infrastructure and Power Sectors
Makhtar Diop, on behalf of IFC, highlighted the need for significant private sector investments in Pakistan’s critical infrastructure. He particularly pointed out:
- Road and transport sector enhancements
- Power sector developments, with a focus on transmission lines
- Airport service modernization
- Construction of wheat storage silos to improve food security and exports
To sustain long-term economic development, IFC emphasized the importance of investing in health, water, and sanitation sectors. Diop noted that a healthier population translates to a more productive workforce, which is vital for national economic progress.
To address these needs, the IFC and the Government of Pakistan plan to implement large-scale investment programs aimed at:
- Improving access to clean drinking water
- Enhancing healthcare infrastructure
- Expanding sanitation services across urban and rural areas
- Ensuring social safeguards to protect vulnerable communities
These initiatives align with Pakistan’s Vision 2035 to create a sustainable and inclusive economic environment.
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