ISLAMABAD, Sep 11 (APP): The Country Director World Bank Najy Benhassine, called on Prime Minister Anwaar-ul-Haq Kakar here on Monday to apprize him on the performance of the World Bank ongoing portfolio in Pakistan and to seek his guidance to better align the portfolio with the priorities of the government and to further expand the interventions to help boost the economic activities in the country.
The Prime Minister, while emphasizing development initiatives being focused on urban cities rather than peripheries / rural areas, appreciated the diversity of World Bank portfolio in Pakistan. The Prime Minister stressed the World Bank to engage more in the newly merged districts of Khyber Pakhtunkhwa, Balochistan, Gilgit-Baltistan and Azad and Jammu Kashmir.
The Prime Minister, while highlighting the World Bank funded ongoing Project titled “Balochistan Integrated Water Resources Management & Development Project” recognized the better management of Porali Basin in Balochistan Province.
The Country Director World Bank recognized the need to have more interventions in the rural areas particularly in the province of Balochistan. He also mentioned the newly signed project titled “Integrated Flood Resilience and Adaptation Project (IFRAP) worth US$400.0 million that will not only deliver in flood-affected areas of Balochistan province but also benefit the rural areas.
Finance Minister Dr Shamshad Akhtar, while highlighting limitations of fiscal space available, asked the Country Director to brief the Prime Minister on the budgetary support program. The Country Director acknowledged the government’s efforts in achieving difficult reforms under “Second Resilient Institutions for Sustainable Economy (RISE-II) Program” and informed the Prime Minister that the program will soon be approved by the Board of Directors of the World Bank Group. The Finance Minister also asked the Country Director World Bank to look into the possibility of repurposing and initiating new fast disbursing operations to ensure maximum disbursement of foreign resources.
The Prime Minister and Finance Minister requested the World Bank to take lead for an alignment of Development Partners’ priorities with the reform agenda of the government. The Prime Minister specifically commended the World Bank for extending immediate support to Pakistan during the floods in 2022.
