KARACHI: Pakistan has become the first country to launch a longerterm Country Partnership Framework (CPF) with the World Bank, after the bank`s board of directors approved the 10-year programme at a meeting held in Washington, a day earlier.

According to the World Bank, the new framework aims to `support inclusive and sustainable development through a strong focus on building human capital`, in addition to fostering durable private sector growth.In a statement on X (formerly Twitter), PM Shehbaz Sharif welcomed the pledge, saying that it reflected Pakistan`s national priorities.

`CPF reflects the World Bank`s confidence in Pakistan`s economic resilience and potential. We look forward to strengthening our partnership as we align our efforts for creating lasting opportunities for our people,` he remarked.

With around $20 billion available in funding for the decade from 2026 to 2035, the CPF focuses on six key areas: • Reduced child stunting through increased access to clean water and sanitation services, basic health and nutrition and family planning services • Reduced learning poverty through quality foundational education • Increased resilience to floods and other climate-related disasters and better food and nutrition security in the face of climate impacts on the water-agriculture nexus • Cleaner and more sustainable energy and better air quality • Increased fiscal space and bet-ter management and more progressive public expenditures for development • Increased productive and inclusive private investment, particularly to improve external trade balances and higher, more sustainable growth.

These outcomes will be supported by cross-cutting interventions in social safety nets and financial inclusion to support and protect the most vulnerable populations, particularly women, as well as digital and transport connectivity, according to a World Bank statement.

`We are focused on prioritising investment and advisory interventions that will help crowd in muchneeded private investment in sectors critical for Pakistan`s sustainable growth and job creation, including energy and water, agriculture, access to finance, manufacturing and digital infrastructure,` said Zeeshan Sheikh, International Finance Corporation Country Manager for Pakistan and Afghanistan.

`We are also collaborating with public and private partners toaddress key policy challenges that inhibit a more inclusive participation of the private sector in Pakistan`s economy.

According to the WB statement, the CPF has been informed by the government`s priorities, both at the federal and provincial levels, as well as lessons learned from the previous country engagements.

`It is also well aligned with key objectives of the recently launched National Economic Transformation Plan, Uraan Pakistan, and those of the Prime Minister`s Economic Transformation Agenda and Implementation Plan,` the statement said.

According to Rizwan Saeed Sheikh, Pakistan`s ambassador to the US, the programme is proposed as a 10-year `rolling CPF`, with regular annual reviews to assess progress towards the proposed objectives.

Speaking at a reception hosted by the World Bank Group following the approval of Pakistan`s CPF, he said a mid-term review will allow for the evaluation of achievements against objectives and appropriate adjust-ments to ensure continued support for the long-term strategy, a statement from the embassy quoted him as saying.

`This is not only a result oriented but impact-oriented program that would benefit the fifth most densely populated country in the world,` Mr Sheikh added.

Funding breakdown The CPF is designed as a longterm approach with the flexibility to adjust to evolving circumstances and shocks.

Although the size and ambition of World Bank Group funding for the CPF is estimated at around $30 to 40bn over 10 years, project documents suggest that the actual lending envelope for FY26-35 will total around $20 billion.

Of this, around $14bn will come from International Development Association (IDA) funding. The bank has recently achieved the replenishment target of $100 billion under IDA21, and the $14bn figure is based on the assumption that the funding available in the coming cycles remains constant in realterms and about the average of IDA18, IDA19, and IDA20 amounts.

These are the funds available to the association, committed by donors who meet every three years to replenish IDA resources and review its policy framework.

A second component derives from International Bank for Reconstruction and Development (IBRD) funds, which are estimated at around $6bn. These depend on country demands, overall macroeconomic performance, global economic/financial developments that affect IBRD`s financial capacity, and demands by other borrowers.

The IBRD is the lending arm of the World Bank Group and is one of the two international financial institutions alongside the International Monetary Fund (IMF) established by the Bretton Woods agreement after the second World War.

According to the bank, IBRD has provided over $48.3bn in assistance since 1950, and the bank`s current portfolio includes 106 projects and a total commitment of $17bninPakistan.