Prime Minister Muhammad Shehbaz Sharif secured a historic $40 billion commitment from the World Bank Group (WBG) during a meeting with WBG President Ajay Banga at the 80th session of the United Nations General Assembly in New York.
The substantial financial pledge is part of a new Country Partnership Framework (CPF) for the period 2026-2035 and signifies the bank’s confidence in Pakistan’s reform agenda. Sharif commended Banga’s leadership in streamlining the World Bank’s operations and increasing private sector investment. He also acknowledged the institution”s crucial support during recent challenges, including the COVID-19 pandemic and the 2022 floods.
Sharif briefed Banga on Pakistan”s comprehensive economic reforms, which include resource mobilization, energy sector overhauls, privatization and climate change resilience measures. He emphasized that these initiatives have stabilized the macroeconomy, boosted investor trust and fostered sustainable and inclusive growth.
The Prime Minister expressed gratitude for the record funding under the new CPF and pledged close collaboration with provincial authorities to ensure its effective implementation. Banga, in turn, praised Pakistan”s reform efforts and reaffirmed the WBG”s dedication to supporting the nation”s development goals. He highlighted the bank’s willingness to provide continuous assistance for economic reforms and long-term climate resilience projects under the CPF.
Both leaders underscored their commitment to strengthening cooperation under the CPF to advance Pakistan’s developmental priorities.