Finance Minister Muhammad Aurangzeb appreciated the World Bank’s approval of the 10-year Country Partnership Framework for Pakistan (CPF).

According to details surfaced on Wednesday, Aurangzeb held high-level discussions with World Bank Vice President Martin Riser during his official engagements at the World Bank and International Monetary Fund (IMF) Annual Meeting in Washington.

Mr Aurangzeb thanked the World Bank for its cooperation in the areas of economic reforms, digitalisation, and the energy sector agenda.

He emphasised the need for the fast-track implementation of the Country Partnership Framework and the identification of projects across the country.

During the meeting, both parties agreed to boost private sector investment in order to create employment opportunities. Mr Aurangzeb also stressed the need to remove obstacles in projects and to devise effective mechanisms for their resolution.

At the IMF and World Bank Annual Meeting, the Federal Finance Minister attended the 13th Ministerial Meeting. The session discussed the means to address climate change while achieving economic growth.

Mr Aurangzeb reviewed Pakistan’s efforts to address climate change and highlighted initiatives taken under national strategies.

The Finance Minister mentioned the inclusion of an environmental focus as a key pillar of the country’s strategic framework. He noted that special emphasis had been placed on climate resilience and the reduction of carbon emissions.

Mr Aurangzeb also mentioned the Staff Level Agreement with the IMF. According to him, under this agreement, it would be possible to achieve long-term financial stability in the context of climate change.

In his address, Mr Aurangzeb emphasised the integration of environmental measures and aspects into economic and financial policies.

More than 90 countries and 25 institutional partners formed part of the coalition of finance ministers established for environmental action.