WB Pledges $20 BN to Pakistan Under Partnership Framework

Web Desk: Prime Minister Shahbaz Sharif and Army Chief General Asim Munir’s efforts bear fruit as the World Bank pledges $20 billion to Pakistan.

According to sources, this $20 billion will be provided to Pakistan under the 10-year Country Partnership Framework (CPF). For the approval of the framework, 19 out of 24 directors voted in favor of Pakistan.

Sources state that nearly three-quarters of the $20 billion will be provided through IDA, while the remaining amount will be delivered under the International Bank for Reconstruction and Development (IBRD).

The extended framework will focus on six key development sectors. Additional funding from the International Finance Corporation will complement the CPF. Its objectives include addressing child stunting, combating climate change, providing clean water, increasing public resources and private investment, raising tax revenue to exceed 15% of GDP, and enhancing renewable energy capacity by 10 gigawatts.

Additionally, the CPF aims to provide quality education to 12 million students, healthcare facilities to 50 million people, and clean water and sanitation to 60 million individuals.

It also includes goals for ensuring food security for 30 million people and increasing contraceptive access for 30 million women.

Targets have also been set for managing natural disasters and risks, including floods, which will benefit 75 million people.