World Bank Group President arrives for three-day visit

World Bank Group President arrives for three-day visit

ISLAMABAD: David Malpass, President of World Bank Group will arrive in Islamabad today Wednesday, October 30, 2019 for a three-day visit, his first trip to Pakistan since assuming World Bank Group leadership on April 9, 2019.

While in Pakistan, Malpass will meet with Prime Minister Imran Khan.

He will also meet the Chief Minister of Sindh, Federal and Provincial Ministers, Advisors, the State Bank Governor, members of Parliament, beneficiaries of the Benazir Income Support Program, and representatives of the private sector.

“My visit to Pakistan provides a good opportunity to discuss the need for important reforms to stabilize the Pakistani economy and accelerate broad-based growth,” said Malpass.

“I look forward to hearing from Prime Minister Imran Khan and the Chief Ministers on their priorities and how the World Bank Group can best work with Pakistan to improve its business and jobs environment, and create conditions for people to gain education, skills, and good health.”

During his visit, President Malpass will engage on reforms, including harmonizing the sales tax across Pakistan to further improve the business environment and enhance revenue collection; lowering circular debt in the power sector and increasing the share of renewable energy for environmental sustainability; harnessing a greater role for women in the economy; and unleashing digital payments to boost financial inclusion.

President Malpass will visit a World Bank-supported hydropower project in Tarbela, where the Bank is currently financing additional capacity of 4GW of cheaper and environment-friendly energy.

President Malpass will participate in an event to celebrate Pakistan’s progress in Ease of Doing Business 2020, and to discuss useful next steps.

He will also participate in the launch of the National Payments Systems Strategy with the government and representatives from the private sector.

Pakistan has been a member of the World Bank since 1950. Since then, the World Bank has provided $40 billion in assistance.

The World Bank’s program in Pakistan is governed by the Country Partnership Strategy for FY2015-2020 with four priority areas of engagement: energy, private sector development, inclusion, and service delivery.

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