The minister expressed deep appreciation for the World Bank's historical support, particularly during critical challenges, including the COVID-19 pandemic and devastating 2022 floods
Economic Affairs Minister Engages World Bank on Strategic Development Framework
By Elaine Pasquini
Washington, DC: Ahad Khan Cheema, Pakistan's Federal Minister for Economic Affairs, held high-level discussions on June 26, 2025, with leadership officials of the World Bank during his official visit to the United States the last week of June, marking a significant step forward in the country's development partnership with the international financial institution.
In a productive meeting with Anna Bjerde, managing director for operations at the Bank, and Martin Raiser, the Bank’s regional vice president for the South Asia region, Minister Cheema applauded the strengthened collaboration between Pakistan and the World Bank Group over the past year. This enhanced engagement has culminated in the development of the new Country Partnership Framework (CPF) 2026-2035, a transformative ten-year strategy backed by an unprecedented $40 billion commitment from the financial institution.
The minister expressed deep appreciation for the World Bank's historical support, particularly during critical challenges, including the COVID-19 pandemic and devastating 2022 floods.
“As our largest development partner, the World Bank has played an indispensable role in Pakistan's socio-economic progress and improving the lives of our citizens,” he stated, particularly commending the leadership of both Ms Bjerde and Mr Raiser in advancing this vital partnership.
With the CPF now successfully launched, Minister Cheema emphasized the government's complete focus on finalizing a comprehensive implementation framework in collaboration with the World Bank to ensure the strategy delivers its full potential. He welcomed Pakistan's transition to the World Bank's Middle East and North Africa (MENA) Region under Vice President Ousmane Dione, noting this move will create valuable opportunities for knowledge exchange and regional synergy.
In a separate meeting with World Bank Group Executive Director Abdelhak Bedjaoui, Minister Cheema acknowledged Bedjaoui’s outstanding representation of Pakistan's economic interests. The minister proposed regular visits by executive directors to constituency countries to better understand development needs and opportunities for World Bank engagement.
The discussions also highlighted recent World Bank approvals, including the $700 million Reko Diq mining project, considered by Toronto-based stakeholder Barrick Gold to be one of the world’s largest underdeveloped copper areas. The $400 million Risk Participation Facility involving the International Finance Corporation and Standard Chartered Bank Pakistan Limited, which moved forward despite objections, was also discussed. Minister Cheema reaffirmed Pakistan's commitment to working closely with the World Bank country team to achieve the CPF's ambitious development objectives and transformational impacts.
World Bank leadership expressed appreciation for Minister Cheema's insights and assured their full support for the effective implementation of the CPF, underscoring the institution's continued commitment to Pakistan's sustainable economic development.
(Elaine Pasquini is a freelance journalist. Her reports appear in the Washington Report on Middle East Affairs and Nuze.Ink.)
