World Bank to support Pakistan’s new reform plans

World Bank to support Pakistan’s new reform plans
World Bank’s newly appointed Vice President for the South Asia Region, Hartwig Schafer, met with Pakistan Foreign Minister, Shah Mahmood Qureshi, on Wednesday. (Photo courtesy: Press Information Department)
Updated 29 August 2018
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World Bank to support Pakistan’s new reform plans

World Bank to support Pakistan’s new reform plans
  • Says looking forward to engaging federal and provincial governments
  • Two-day meet aims to boost regional connectivity and trade

ISLAMABAD: The World Bank on Wednesday said it was ready to support Prime Minister Imran Khan’s reform plans as part of a move to stabilize the economy, accelerate growth, end poverty and boost prosperity.
Hartwig Schafer, the newly-appointed Vice President for the South Asia Region, pledged his commitment at a meeting with government officials, according to a statement released by the bank. 
“The visit gave me an opportunity to learn more about how we support millions of people in Pakistan, especially the youth, through investments in health, nutrition, education, skills and the digital economy,” Schafer said.
During his two-day stay in Islamabad, Schafer met with Finance Minister Asad Umar and Foreign Minister Shah Mehmood Qureshi, among others. He also held discussions on digital disruption and regional connectivity and trade with stakeholders from the private sector and civil society.
“I am impressed to learn of Pakistan’s plans for investing in human capital and creating jobs, attracting investments through ease of doing business and better regional connectivity, improving infrastructure and services in Karachi, and strengthening the management of water and the environment,” Schafer said. 
He added: “We look forward to providing support to implement urgent reforms needed to stabilize the economy and achieve accelerated growth in the medium term.”
Pakistan’s Foreign Office said Qureshi and Schafer discussed ways to support the new government especially in education, agriculture and rural development with a special emphasis on regional connectivity as well as the World Bank’s collaboration in CASA-1000 and the Khyber Pass Economic Corridor (also known as Peshawar-Torkhum-Kabul Motorway).
“The Foreign Minister thanked the World Bank for its continued support since 1952. He solicited the bank’s support for development priorities of the new government and also shared the prime minister’s vision of a peaceful neighbourhood.” the Foreign Office said in a statement.