• Premier meets World Bank delegation, asserts institutional and economic reforms heading in right direction
• Says $20bn will be invested in private sector under IFC, equal amount to be spent on development

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday welcomed a $40 billion “investment” by the World Bank and hoped that the inflow will open “a new chapter” in various sectors, including health, education, and youth development.

According to the statement from Prime Minister House, PM Shehbaz welcomed a delegation of nine World Bank executive directors in Islamabad. “Under the World Bank’s recent Country Partnership Framework, an investment of $40bn will be made in Pakistan, which is welcome,” the statement quoted the prime minister as saying.

“With the support of the World Bank, several major projects were built in Pakistan for national development and reconstruction, which played an important role in Pakistan’s development,” he added.

Last month, an official statement announced that the World Bank pledged to provide $20bn to Pakistan under a 10-year country partnership framework (CPF) to support inclusive and sustainable development within the country.

The PM further said that........

© Dawn Business