Pakistan’s Federal Minister for Economic Affairs and Governor to the World Bank Group, Ahad Khan Cheema, met WBG President Ajay Banga on the sidelines of the 2026 WBG-IMF Annual Meetings in Bangkok. The talks focused on the next phase of Pakistan’s long-standing partnership with the Bank.
The discussion built on Banga’s visit to Pakistan in February 2026. Both sides focused on turning macroeconomic stabilisation into sustainable, investment-led growth, productive employment and better livelihoods.
Efficiency gains and reform efforts at the World Bank
Cheema acknowledged Banga’s efforts to improve the institution’s operational efficiency. He pointed in particular to a cut in average project preparation time from 19 months to nine months, and to a record US$112 billion in private capital mobilised in FY2026.
Cheema also highlighted the government’s whole-of-government reform drive, led by the Prime Minister’s Steering Committee on implementation reforms. The effort aims to remove systemic bottlenecks and speed up project execution. Both sides agreed to build on these steps by simplifying processes further and accelerating development outcomes.
Priority sectors and flagship programmes for financing
Cheema stressed that the Country Partnership Framework and policy reforms should be aligned with large, high-impact investments. He listed the following priority areas:
- Digital transformation and AI
- Minerals and value addition
- Primary healthcare and skills development
- Agricultural value chains
- Energy and transport infrastructure
He also called for continued WBG financing for the ML-1 project and the National Artificial Intelligence and Economic Development Program. He said the partnership must deliver lasting results, with credible progress monitoring and clear benefits for end beneficiaries.
Private sector growth and sovereign wealth fund plans
Cheema highlighted the government’s commitment to strengthening the private sector as a driver of investment, innovation and job creation. He cited a target of doubling SME financing by 2028 and said the prime minister was actively engaging development partners to back this agenda.
Banga reaffirmed the WBG’s support for expanding private-sector activity. He stressed the need to choose financial institutions and private partners carefully so they can deliver sustainable results. The discussion also explored whether a sovereign wealth fund could mobilise investment, with privatisation safeguards protecting strategic national interests.
Both sides reaffirmed their commitment to a forward-looking partnership. Their shared aim is to turn high-impact investments and reforms into sustained growth, productive jobs and a better quality of life for the people of Pakistan.
