ISLAMABAD - Axel van Trotsenburg, Managing Director World Bank, has commended the efforts of government of Pakistan for economic recovery and policy reforms.
A high-level Pakistani delegation comprising of Omar Ayub Khan, Minister for Economic Affairs, Shaukat Tarin, Minister for Finance & Revenue, Hammad Azhar, Minister for Energy, and other senior officials held a meeting with Axel van Trotsenburg, Managing Director, World Bank on the sidelines of WBG/IMF Annual Meetings 2021. Omar Ayub Khan, Minister for Economic Affairs, appreciated the World Bank’s continued support to Pakistan. He shared that 58 WB-funded projects worth $13 billion are under implementation in the priority development areas including economic reforms, finance, energy, communication, education, health and social protection across the country. In FY2020-21, the government of Pakistan signed sixteen (16) projects amounting to $3.64 billion with the World Bank. The minister also appreciated the World Bank for its global initiative amounting to $12 billion to help developing countries for procuring COVID-19 vaccines. Under WB’s financing of $153 million, Pakistan is procuring Pfizer vaccine for its citizens. 
Minister for Economic Affairs emphasized on the importance of enhanced connectivity through improved roads and digital networks. Rural Roads Connectivity is one of the key components for rural development. An efficient and reliable road network promotes access to social services such as health facilities & educational institutions and enhanced economic opportunities through increased agricultural income and employment, especially in rural and remote areas. During the meeting, Pakistan’s recent economic recovery amid COVID-19 waves was also appreciated. It was further highlighted that Pakistan’s exports, especially in textile and IT sectors, are performing well which would help to achieve export target for the FY2021-22.  Axel van Trotsenburg, Managing Director, World Bank commended the efforts of Government of Pakistan for economic reforms. The World Bank team appreciated the government’s efforts for energy sector reforms including Circular debt management and Integrated Generation Capacity Expansion Plan. 
Axel also appreciated the efforts of government of Pakistan’s for supporting evacuation of World Bank’s staff from Kabul. Both sides agreed to enhance technical and financial cooperation for socioeconomic development in line with the government’s development priorities.