Islamabad: World Bank's Regional Vice President for South Asia, Martin Raiser on Thursday said that the World Bank proposes a long term, focused 10 years Country Partnership Framework (CPF) for Pakistan as an 'anchor' for a joint commitment to address country's development challenges.
The Proposed Country Partnership Framework for Pakistan,(FY 2026-2035) would run up to 10 years is anchored around six outcomes focused on Pakistan's most critical development needs, he said this while addressing the launch event of Pakistan Country Partnership Framework (FY 2026-2035) here.
He said this partnership fosters a unified and focused vision for Pakistan and the partnership fosters a unified and focused vision for Pakistan, around six outcomes with clear, tangible and ambitious 10-year targets we jointly aim to reach.
He said it is strategically designed to complement and support the government's efforts, ensuring alignment with its priorities to address the country's most pressing challenges. The new Country Partnership Framework (CPF) that we launched today is therefore very timelyhe added.
Martin Raiser said Pakistan stands at a pivotal moment, with an ambitious program of reforms on the move, macroeconomic stabilization clearly taking hold and, importantly, the government recent launch of its National Economic Transformation Plan, Uraan Pakistan, laying the groundwork for a sustainable and inclusive growth recovery.
He said that on this important day where 'we formally launched, this morning with the prime minister, the new World Bank Group Partnership Framework for Pakistan that will span a period up to the year 2035.'
'Our new Partnership adopts a long-term perspective because selectivity and consistency of our engagement over an extended period is needed to impact country outcomes such as addressing child stunting and learning poverty, enhancing climate resilience, transitioning to cleaner energy, or improving air quality' he said.
World Bank's regional vice President for South Asia, said this document will indeed serve as a long-term anchor for our joint commitment to address key country development needs, in alignment with the Government's priorities, and for the benefit of the people of Pakistan.
He said the World Bank resources will not be enough to reach our joint ambitions.
Raiser said the CPF approach aims to crowd in much needed private capital in underinvested parts of the economy- including with the support of our private sector arms the International Finance Corporation (IFC) and the Mlutilateral Investment Guarantee Agency (MIGA).
He said that unlocking private investment in priority sectors will require a mix of public and private sector solutions and enabling policy reforms and also, partnerships will be critical.
More resources will be needed to have impact at scale which will require a close collaboration with other multilateral and bilateral development partners of Pakistan, he added.
Martin Raiser by fostering alignment and leveraging joint programs, the new CPF aims to ensure that efforts are harmonized, resources are utilized efficiently, and based on each other's comparative advantages,' we can step back in sectors where other partners or the private sector, including IFC, can take the lead.'
He said that focus, leverage and long-term approach anchored on tangible targets: this is a shift in the way we engage with Pakistan, which reflects a broader change in the World Bank's new country engagement model and Pakistan is a pioneer.
It is indeed the first country where we are implementing this new engagement approach, he said.
Martin Raiser said, 'I am happy to report that our Board of Directors strongly supported it when we discussed the CPF last week in Washington and noted in particular the strong country ownership the CPF.'
He said that today is a start of an ambitious and long journey and it will take leadership in steering, focus on the results and persistence,' we may need to adjust and course-correct as circumstances change.'
All this will require continuous joint monitoring and strategic planning. That also is a shift in the way we will work together for the betterment of the people of Pakistan, he said.
In his concluding remarks, Secretary, Economic Affairs Davison, Dr. Kazim Niaz said that CPF is just for this long term economic partnership between Pakistan and World Bank for sustainable economic growth in the country.
