NEW YORK, September 21, 2022 — Today, World Bank Group President David Malpass met with Prime Minister Shehbaz Sharif of Pakistan.
President Malpass expressed condolences for the loss of life in the country due to extreme flooding. President Malpass affirmed to Prime Minister Sharif the World Bank Group’s (WBG) commitment to support Pakistan with immediate financing by repurposing the existing loan portfolio and through new emergency investment operations. This WBG financing would support social protection of those most affected by flooding and would help to rebuild infrastructure damaged by the floods, including roads, dams, houses, schools, and health centers. President Malpass noted that Pakistan also has the support of other multilateral financial institutions.
President Malpass and Prime Minister Sharif highlighted the importance of continuing with the implementation of fiscal and energy reforms, which are critical to stabilize the economy and currency and enable economic recovery. They also spoke about the potential for renewable energy sources to lessen Pakistan’s dependence on imported fossil fuels.