Pakistan, Islamic Development Bank advance $5.6bn cooperation in infrastructure development

Pakistan and the World Bank have pledged to speed up the implementation of the Country Partnership Framework 2026-2035. Federal Minister for Economic Affairs and the World Bank Governor, Ahad Khan Cheema, met Anna Bjerde, Managing Director of Operations at the World Bank, at the 2026 World Bank Group-IMF Annual Meetings in Bangkok.

The minister stressed the government's commitment to translating the CPF's goals into real development achievements, requesting increased technical and financial backing, integrated programs across multiple sectors, and digital tools to monitor progress and gauge impact. Cheema highlighted the significance of better project readiness through dedicated Project Readiness Facilities (PRFs), consistent financial support, and improved implementation assistance to hasten project approvals and execution.

He stressed that concessional funds must be allocated wisely to maximize development impact while preserving debt sustainability. The conversation also touched on the World Bank's assistance for areas vital to human development, climate resilience, water, sanitation, and economic transformation. Cheema underlined the importance of investments in job-rich sectors to boost employment and foster inclusive growth.

He also talked about bolstering support for the ML-1 Railway Upgradation Project and the concept of a railway corridor spanning around 1,800 km to enhance connectivity and unlock economic prospects, along with the proposed Minerals Compact to push forward Pakistan's minerals industry. Bjerde confirmed the World Bank's dedication to backing Pakistan's key sectors and collaborating with the government to bolster operational effectiveness and hasten project execution.

Both parties agreed to intensify their collaboration to pursue shared objectives under the CPF and guarantee that development financing yields timely, sustainable, and quantifiable benefits for the people of Pakistan.