World Bank Pledges $20 Billion to Pakistan Under 10-Year Partnership Framework

In a significant development, the World Bank has committed to providing Pakistan with $20 billion under a 10-year Country Partnership Framework (CPF). This commitment follows the combined efforts of Prime Minister Shehbaz Sharif and Army Chief General Asim Munir. The CPF aims to support Pakistan’s development goals in various key sectors.

According to sources, 19 out of 24 World Bank directors voted in favor of the framework’s approval. The majority of the $20 billion will be provided through the International Development Association (IDA), while the remaining funds will come from the International Bank for Reconstruction and Development (IBRD).

The CPF will focus on six critical development areas, including tackling child stunting, addressing climate change, ensuring clean water supply, increasing public and private sector investments, and raising tax revenue to exceed 15% of GDP. Furthermore, it aims to enhance renewable energy capacity by 10 gigawatts.

The framework also includes ambitious goals, such as providing quality education to 12 million students, healthcare to 50 million people, and clean water and sanitation to 60 million individuals. Additionally, it targets food security for 30 million people and improving access to family planning for 30 million women.

Disaster preparedness and response, especially in the aftermath of floods and other natural calamities, is another key component of the CPF, aiming to benefit 75 million people across the country.