Pakistan: World Bank to provide $40 billion under Country Partnership Framework
Islamabad, Hilal Ahmad, 15 January, AZERTAC
The World Bank Board has approved a 10-year Pakistan Partnership Framework 2025-2035. The Bank will give $40 billion to the Pakistani government over a period of 10 years, subject to available funding and meeting projects’ related requirements in the education, health, climate change and other important sectors.
According to the Pakistani media reports on Wednesday, out of the total amount 20 billion dollars would be provided through International Development Association and International Bank for Reconstruction and Development. The World Bank has pledged to provide Pakistan 40 billion US dollars under the 10-year Country Partnership Framework.
The Country Partnership Framework will focus on six key development areas, including mitigating climate change, improving learning outcomes, providing clean water, reducing child stunting and promoting public resources & private investment for comprehensive development. The International Finance Corporation will also provide funding of 20 billion to support the Country Partnership Framework.
Specific goals include increasing tax revenue to over 15% of GDP, adding 10 Gigawatts of renewable energy capacity, providing quality education to 12 million students and delivering healthcare services to 50 million people.The framework also aims to provide safe drinking water and sanitation facilities to 60 million people, strengthen food security for 30 million individuals, and increase access to family planning services for 30 million women.
Moreover, the Country Partnership Framework includes objectives to address flood and disaster risks. It will benefit 75 million people in the country. The World Bank Board has officially approved the Pakistan Partnership Framework 2025-2035 aimed at fostering development in Pakistan. The first-ever 10-year Country Partnership Framework for Pakistan is the largest commitment in the nation’s history.
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