World Bank President Ajay Banga Meets Pakistan’s PM Shehbaz Sharif, Pledges Deeper Support for Economic Reforms

Islamabad, February 2, 2026 — World Bank Group President Ajay Banga held high-level talks with Prime Minister Muhammad Shehbaz Sharif in Islamabad on Monday, reaffirming the institution’s commitment to supporting Pakistan’s long-term development agenda amid the country’s ongoing economic stabilization efforts.

The meeting, which marked Banga’s first official visit to Pakistan since assuming the presidency of the World Bank Group, focused on accelerating implementation under the new 10-year Country Partnership Framework (CPF) for FY2026–FY2035. Both sides emphasized the need for faster execution, stronger oversight, and results at scale to address key development priorities.
Prime Minister Sharif welcomed Banga and expressed appreciation for the World Bank’s longstanding partnership, describing it as instrumental in advancing Pakistan’s economic reforms and growth objectives. He highlighted the government’s comprehensive, home-grown structural reform program aimed at achieving sustainable economic stability and job-rich growth.
The Prime Minister specifically acknowledged World Bank support in critical sectors, including:
Resilient infrastructure
Agribusiness development
Digital transformation
Energy sector reforms
Human capital investment
Fiscal consolidation
Mobilizing productive private investment to drive employment and economic expansion
Sharif also praised Banga’s leadership in making the World Bank a more effective and impactful development partner globally. He reiterated Islamabad’s determination to implement bold structural reforms that boost investor confidence and unlock inclusive, employment-generating growth.
Both leaders stressed the urgency of fast-tracking project delivery under the CPF and resolving longstanding implementation bottlenecks — a key priority of the Sharif administration.
In response, President Banga thanked the Prime Minister for the warm hospitality and commended Pakistan’s ongoing reform momentum. He reaffirmed the World Bank’s dedication to deepening engagement through a “One World Bank Group” approach, which integrates resources across the institution’s arms.
Banga underscored that meeting Pakistan’s ambitious reform goals would require greater leverage of private capital alongside close coordination with other development partners — a message consistent with his global emphasis on mobilizing private sector resources to scale impact in middle-income and developing economies.
The discussion aligns with the recently launched CPF, which represents a strategic shift toward larger, more focused, and longer-term investments in areas critical for sustained poverty reduction, climate resilience, and inclusive growth in Pakistan.
Banga’s four-day visit to Pakistan, which began over the weekend, has included engagements beyond official meetings. On the opening day, he visited Gurdwara Sri Panja Sahib in Hassan Abdal — performing traditional rituals alongside family members — and the historic Jaulian Buddhist archaeological site in Haripur district, Khyber Pakhtunkhwa, where he expressed appreciation for Pakistan’s efforts to preserve cultural heritage and promote tourism as a driver of jobs and sustainable growth.
The visit is seen as an important signal of continued multilateral support as Pakistan works to stabilize its economy, attract investment, and implement far-reaching reforms under challenging fiscal and external conditions.
Further discussions with senior officials, including the Finance Minister and other economic team members, are expected during the remainder of Banga’s stay.