Minister For Planning, Development And Special Initiatives Professor Ahsan Iqbal Reviews 'New Pakistan Country Partnership Framework Of World Bank'

Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Friday chaired a meeting to review key strategy developed by World Bank in consultation with federal government, provincial governments and private sector

ISLAMABAD, (UrduPoint / Pakistan Point News - 6th Dec, 2024) Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Friday chaired a meeting to review key strategy developed by World Bank in consultation with federal government, provincial governments and private sector.

The strategy was developed considering Pakistan’s socio-economic issues and vision especially “5Es Framework to Turnaround Pakistan” in order to address key challenges and exploit opportunities, a news release said.

Under the strategy, called "New Pakistan Country Partnership Framework of World Bank FY 2026 -35," several projects of different priority areas would be developed.

The priority areas include structural reforms, human capital development, energy sector reforms, climate adaptation and increasing economic opportunities including in agriculture field.

The World Bank had organized consultative workshops to discuss the priorities of CPF with Federal Government, Provincial Governments and Private Sector during June to August, 2024.

Minister Ahsan Iqbal while chairing the meeting asserted relevant ministries to ensure that the strategy must reflect priorities that are aligned with development framework of the government.

He also asserted that the focus of every project must be adoption of emerging technology in order to transform Pakistan into a techno economy.

In addition, he directed the stakeholders to develop clearly laid out Key Performance Indicators (KPIs) so that the financing procured under the partnership is used effectively.

The minister was briefed that the overall objective of the CPF is to promote Pakistan’s transformation to a higher growth path that is inclusive, resilient, and sustainable through six outcomes linked with measurable targets.

The outcomes include reduced child stunting, reduced learning poverty, increasing resistance to climate change, cleaner energy and better air quality, more public resources for inclusive development, increased productive private investment.

The six outcomes are divided across different themes and categories. Under the structural reforms category, discussions were held to mobilize resources of government institutes to fast tract service delivery and remove hurdles facing the process of government functioning.

The human capital development category will include projects aimed at reducing child stunting and improving foundational learning. Under the category of energy sector reforms, renewable energy projects will be implemented.

As for the climate adaption category, projects targeted towards coping with water scarcity and climate related shocks will be developed.

It was also discussed that improving air quality will be one of the focus areas of climate related projects. Under the fifth category, i.e. increasing economic opportunities, projects developed to facilitate jobs for the underprivileged citizens will be implemented.

The partnership with World Bank will help in achieving key development priorities for long term development in the next few years.