Islamabad:
Prime Minister Shehbaz Sharif emphasized Friday 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 advance in the objective of combating climate change in close collaboration and association with the international community and the UN.
The prime minister was talking to the UN resident coordinator in Pakistan, Mohamed Yahya, who asked him for a courtesy call.
During the meeting, the Prime Minister appreciated the important work carried out by the UN Country team in Pakistan. He transmitted his warm greetings to the UN Secretary General, Antonio Guterres, while recalling his strong leadership in galvanizing global support for Pakistan during the floods of 2022.
The role of IFC
Prime Minister Shehbaz Sharif met with Makhtar Diop, managing director and executive vice president of the International Finance Corporation (IFC), the investment arm of the private sector of the World Bank Group (WBG), to discuss the continuous and pipe portfolio of IFC in Pakistan.
He appreciated the new country association framework (CPF) of the WBG (2026-2035) recently launched with its unprecedented commitment of $ 40 billion. It would include sovereign loans of $ 20 billion by the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD). IFC will mobilize another $ 20 billion to foster private sector investments in Pakistan.
The Prime Minister praised the role of IFC in the promotion of private sector investments and the expansion of the portfolio in Pakistan.
