Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the World Bank Pakistan team on Friday, including outgoing Country Director Najy Benhassine and incoming Country Director Ms. Bolormaa Amgaabazar. The minister welcomed Ms. Amgaabazar to Pakistan and expressed confidence that cooperation between Pakistan and the World Bank would continue to grow under her leadership.
Senator Aurangzeb also acknowledged the valuable contributions of Najy Benhassine during his time in Pakistan and wished him success in his future roles. The finance minister highlighted the long-standing relationship between Pakistan and the World Bank, appreciating the Bank’s financial and technical support across key sectors of the economy.
He pointed to the recently signed 10-year Country Partnership Framework (CPF) as a critical part of Pakistan’s economic plan, aiming to transform important sectors through coordinated efforts. The minister emphasized the importance of effectively implementing the CPF’s Country Financing Framework (CFF) to fully benefit from the World Bank’s support, praising the Bank’s ongoing institutional, technical, and financial assistance.
Senator Aurangzeb also referenced the successful completion of the International Monetary Fund (IMF) review, which resulted in the disbursement of $1 billion under the Extended Fund Facility (EFF), along with additional funds available through the Resilience and Sustainability Facility (RSF). He stressed that development finance should be based on merit and objective criteria, avoiding political influence to ensure sustainable progress.
