ISLAMABAD – The World Bank (WB) plans to invest $40 billion in Pakistan from 2026 to 2035 under its Country Partnership Framework (CPF). According to government documents, the Ministry of Economic Affairs is currently developing a comprehensive implementation framework to support this initiative. This framework aligns with the government’s priorities and the National Economic Transformation Plan, Uraan Pakistan.
This comes with a change by the World Bank because, for the very first time the WB adopted a 10-year framework instead of the usual five-year strategy period. Pakistan is set to receive $20 billion in the first phase from the World Bank’s International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). These funds are for education, health, climate change mitigation, and air quality improvement.
Furthermore, this framework includes plans to boost investment for the private sector and for the sustainable development of projects. The International Finance Corporation (IFC) will provide additional funds amounting to $20 billion to support economic growth and the creation of jobs.
In April, the World Bank (WB) approved $108 million for two projects aimed at improving access to social services, markets, and jobs in Khyber Pakhtunkhwa (KP). Additionally, the international lender sanctioned an extra $78 million for the Khyber Pakhtunkhwa Rural Accessibility Project (KPRAP) and $30 million for the Khyber Pakhtunkhwa Integrated Tourism Development Project (KITE). This funding will help both projects achieve their objectives of enhancing access to health and education services, as well as increasing market and job opportunities. Furthermore, it aims to improve resilience against natural disasters in the province.
A statement from Najy Benhassine, the Country Director of WB, said:
“By rehabilitating critical rural road infrastructure and enhancing disaster preparedness, KPRAP and KITE projects are not only improving access to essential services like health and education, but also fostering climate, economic resilience and creating job opportunities for local communities,”the statement said.
