Islamabad, Jan 15: The World Bank has announced an ambitious $20 billion funding initiative for Pakistan under its Country Partnership Framework (CPF). According to sources in the Ministry of Economic Affairs, approximately 75% of the funding will be provided through the International Development Association (IDA), while the International Bank for Reconstruction and Development (IBRD) will contribute the remainder.
Additional backing from the International Finance Corporation (IFC) underscores the comprehensive nature of this development plan.
The CPF addresses six critical development areas, with a strong focus on reducing child stunting, enhancing climate resilience, improving educational outcomes, and ensuring access to clean water. By combining public resources with private investments, the framework aims to foster sustainable and inclusive growth.
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Specific targets include boosting Pakistan’s tax revenue to surpass 15% of GDP, installing 10 gigawatts of renewable energy, and improving education quality for 12 million students.
Additionally, the framework seeks to expand healthcare services to 50 million individuals and provide clean water and sanitation to 60 million people.
It also prioritizes food security for 30 million citizens and improved access to contraceptives for 30 million women.
Addressing disaster risks forms a central pillar of the CPF.
The initiative will enhance flood and hazard resilience, reducing climate disaster risks for 75 million people.
These efforts align with Pakistan’s urgent need for sustainable infrastructure and disaster preparedness.
Out of the World Bank’s 24 directors, 19 have voted in favor of the framework, showcasing strong international support for Pakistan’s development agenda. With this initiative, Pakistan is poised to tackle pressing challenges and build a foundation for long-term economic and social growth.
The CPF not only represents a significant investment but also a strategic opportunity to transform millions of lives through targeted reforms and development programs.
