In meeting with top UN official, Shehbaz Sharif says there is a need to strengthen collaboration, partnership  Lauds IFC role in fostering private investments in Pakistan.

ISLAMABAD  -  Prime Minister Shehbaz Sharif on Friday emphasised the need to further strengthen collaboration with the United Nations in the areas of sustainable development and climate change.

He reaffirmed Pakistan’s strong political commitment to advancing the objective of combating climate change in close collaboration and partnership with the international community and the UN.

The prime minister was talking to UN Resident Coordinator in Pakistan, Mohamed Yahya, who paid a courtesy call on him. During the meeting, the prime minister appreciated the important work being carried out by the UN Country Team in Pakistan.  He conveyed his warm regards for UN Secretary General Antonio Guterres, while fondly recalling his strong leadership in galvanising global support for Pakistan during the 2022 floods.

The prime minister underscored that climate financing remained a crucial component of addressing the impacts of climate change, and expressed the hope that the developed nations would fulfill their commitments in that regard.

He said that Pakistan would continue working closely with the UN on important issues in the areas of climate change, including for the implementation of various projects.

The prime minister also emphasized the need for addressing the financing gap to achieve Sustainable Development Goals (SDGs), as well as for increasing the voice and representation of developing countries in the international financial institutions through reform of the global financial architecture.

Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for EAD Ahad Khan Cheema, Minister for Planning Ahsan Iqbal, SAPM Syed Tariq Fatemi, PM’s Coordinator for Climate change Ms Romina Khursheed Alam and senior government officials also attended the meeting.

Meanwhile, Prime Minister Shehbaz Sharif lauded the International Finance Corporation’s (IFC) role in fostering private investments in Pakistan. He was talking to Managing Director and Executive Vice President of IFC, Makhtar Diop, who called on him in Islamabad on Friday.

The IFC is the private sector investment arm of the World Bank Group. The prime minister encouraged IFC to enhance its support under the key areas including infrastructure and logistics, outsourcing of large airports, agriculture, information technology, mining, climate resilience, healthcare and water and sanitation. Shehbaz Sharif also encouraged IFC to enhance collaboration with the private sector arms of other multilateral institutions for maximizing private sector participation in the development process and achieving greater impact. The prime minister lauded IFC’s role in fostering private sector investments and expanding portfolio in Pakistan.

He emphasised to focus on export led growth. He underlined the need for digitization of the entire echo-system of Pakistan’s economy. Ongoing digitization efforts of the Federal Board of Revenue were also highlighted.

The prime minister appreciated the WBG’s recently launched new decade-long Country Partnership Framework (2026-2035) with its unprecedented commitment of forty billion dollars. It would include sovereign lending of twenty billion dollars by the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). IFC will mobilize another twenty billion dollars to foster private sector investments in Pakistan.

In his remarks, Managing Director and Executive Vice President of IFC, Makhtar Diop appreciated Pakistan’s productive engagement with IMF and successful ongoing economic reforms. He assured the Prime Minister of IFC’s continued support to the private sector in Pakistan duly aligned with the government’s priorities.