WB executive directors visiting Pakistan after two decades

ISLAMABAD: A high-level delegation of nine Executive Directors (EDs) of the World Bank Group (WBG) is arriving today (Monday) after nearly 20 years.

The delegation will discuss Pakistan’s economic development plans, investment opportunities and strategies for effective implementation of the recently approved $40 billion Country Partnership Framework (CPF) for the next decade.

Informed sources said that the delegation of WB EDs, who represents 88 member countries on the World Bank Board of Directors, will engage in key discussions with top government officials and visit multiple provinces to assess and strategize development initiatives.

During their visit, the EDs are scheduled to meet with prime minister, finance minister, minister for Economic Affairs Division (EAD), planning minister and power minister. These discussions will focus on Pakistan’s economic development plans, investment opportunities, and strategies for effectively implementing the recently approved $40 billion Country Partnership Framework (CPF) for the next decade.

In addition to their engagements in Islamabad, the delegation will visit Khyber Pakhtunkhwa (KP), Sindh, and Punjab while also interacting with representatives from Balochistan. These provincial visits aim to provide firsthand insights into local development challenges and opportunities, aligning with the World Bank’s commitment to fostering sustainable economic growth across all regions of Pakistan.

The group will also meet a cross section of business leaders, academia and civil society. The World Bank Group, comprising five multilateral development institutions -- International Development Association (IDA), International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID) -- plays a crucial role in shaping global economic policies.

The delegation’s visit gains added significance against the backdrop of the recently approved CPF for Pakistan, which has become a model for other countries following the World Bank’s adoption of a new country engagement framework. This strategic partnership aims to enhance economic resilience, support private sector growth and improve infrastructure across Pakistan.

A source claimed that the CPF for Pakistan has generated considerable attention at the World Bank headquarters, with other nations viewing it as a benchmark for their own economic collaboration with the WBG. The visiting executive directors will focus on developing business plans and ensuring their effective implementation in the coming years, reinforcing the long-term commitment of the World Bank to Pakistan’s economic transformation.

This landmark visit signals renewed cooperation between Pakistan and the World Bank, with expectations of strengthened financial and technical support for key development projects across the country.

The EDs, who are part of the visiting group include Abdul Haq Bedjaoui from Algeria , representing eight countries; Ms Zanib Ahmed from Nigeria representing South Africa and Angola; Ms Beatrice Maser from Switzerland, representing Nations of Central Asia and Switzerland; Robert Bruce Nicholl from Australia, representing 14 countries including South Korea, New Zealand and Australia; Ms Teresa Solbes from Spain, representing seven countries of South America including Mexico and Costa Rica; Paul Bonmartin from France; Ms Lonkhululeko Magagula from Eswatini, representing 21 countries from African Continent including Tanzania, Zimbabwe, Kenya and Ethopia; Ms Marlene Suzie Nzengou, belonging to Central African Republic and representing 23 African nations, and Tauqir Shah, Executive Director representing Pakistan and seven other countries. The group is accompanied by WBG Company Secretary and Vice President Mercy Tembon.