World Bank Vice President for South Asia Martin Raiser has urged Pakistan to focus on attracting private investment by improving its business climate to secure funding necessary for inclusive growth and development.
In a statement issued after the conclusion of his five-day visit to Pakistan, he reaffirmed the World Bank’s continued support to foster growth and inclusive development in Pakistan but cautioned additional support was required.
“The Word Bank Group’s support will not be sufficient to achieve the ambitious targets set forth,” he said. “Attracting private sector investment by improving the business climate is thus the need of the hour,” he said, adding the lender was ready to work with the private sector and development partners to mobilize additional resources.
“Implementation of the Country Partnership Framework will additionally rely on the collaboration between federal and provincial governments, joint efforts to mobilize the necessary revenues and targeted measures to improve the efficiency of government spending,” he added.
During his visit, Raiser officially launched the $20 billion Country Partnership Framework for FY2026-35, outlining the strategic focus areas of collaboration between the World Bank Group and Pakistan for the coming decade. “The World Bank Group’s Country Partnership Framework marks an important evolution in our engagement,” he said, stressing it was aligned with Uraan Pakistan and focused on six outcomes with clear, tangible and ambitious 10-year targets.
“We hope these targets serve as an anchor for consistent implementation efforts to ensure tangible results for the people of Pakistan,” he added.
Raiser also thanked Prime Minister Shehbaz Sharif for his leadership of the reform agenda, and acknowledged Pakistan’s progress in economic stabilization. He discussed envisaged policy reforms and specific actions needed to transition to sustained, inclusive growth and development.
The World Bank official met various senior officials during his visit, including Finance Minister Muhammad Aurangzeb, Foreign Minister Ishaq Dar, and other members of the federal cabinet. He also met Punjab Chief Minister Maryam Nawaz and Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur, with whom he discussed specific plans to begin implementation of the Country Partnership Framework.