President of World Bank to Visit Pakistan in November

Islamabad: Patchamuthu Illangovan; Country Director of the World Bank has informed Dr. Abdul Hafeez Shaikh; the Adviser to Prime Minister on Finance & Revenue that David Malpass the President of World Bank will be visiting Pakistan in the first week of November.

Along with his team, Illangovan conveyed a strong desire on the behalf of World Bank management to work with Pakistan to drive institutional reforms along with the support for the growth agenda of the government. Patchamuthu further added that the bank would be providing complete assistance for the technical and financial area.

The official from World Bank informed the adviser that the World Bank can work on any the financial arrangement, looking at the objective need and the assessment of the policy matrix at the bank will be very supportive of the institutional reforms being undertaken by the government of Pakistan in different sectors of the economy.

Patchamuthu Illangovan further briefed to Dr. Abdul Hafeez Shaikh that the ongoing discussions with the Ministry of Finance on the two policy-based lending operations to ensure budgetary support to Pakistan is going to be finalized by December 2019.

Along with this, the World Bank is reviewing the issues related to the portfolio of USD 9 billion as well as firming up of Pakistan’s delegation to attend the annual meeting of the IMF (International Monetary Fund) and World Bank Group during October 2019.

The Adviser Dr. Abdul Hafeez Shaikh welcomed World Bank President’s upcoming visit to Pakistan with the hope that the visit would lead to the opening of greater avenue for the production engagement between Pakistan and the World Bank.

The Adviser to Prime Minister on Finance and Revenue said that Pakistan is pursuing a growth-oriented program for the institutional reforms and economic revival. Getting technical and financial assistance from the World Bank is vital for the achievement of various developmental goals in different sectors of the economy.