A high-level World Bank (WB) group arrived in Pakistan to discuss economic development and investment prospects, sources said.
The delegation of Executive Directors will examine ways to execute the recently adopted Country Partnership Framework. Under this framework, Pakistan and the World Bank negotiated a 10-year $20 billion agreement with ambitions to increase funding to $40 billion.
Sources say the International Development Association (IDA) will fund three-quarters of the $20 billion, while the IBRD will give the rest. Six major development sectors will be covered by the enlarged framework, with IFC funding.
The team will meet with Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and Economic Affairs, Planning and Development, and Energy ministers.
The visit follows an IMF delegation’s recent visit to Pakistan. The IMF mission raised concerns with legal representatives about investment-related business matters delayed by late decision-making.
