Makhdum Khusro Bakhtyar, Minister for Economic Affairs chaired a high-level Portfolio Review Meeting of World Bank-funded projects in Pakistan at Ministry of Economic Affairs, Islamabad on September 11, 2020. The meeting was attended by Country Director World Bank and relevant federal & provincial senior officials through video link
Islamabad: September 11, 2020
Makhdum Khusro Bakhtyar, Minister for Economic Affairs chaired a high-level Portfolio Review Meeting of World Bank-funded projects in Pakistan at Ministry of Economic Affairs. The meeting was attended by Country Director World Bank and relevant federal & provincial senior officials through video link. The World Bank’s ongoing portfolio in Pakistan is worth 10.4 billion dollars for 52 projects. The World Bank’s financing for federal development projects amounts to US $ 6 billion while the Bank is providing $ 1.9 billion to Punjab, $ 1.9 billion to Sindh, $ 0.4 billion to Khyber Pakhtunkhwa and US$ 0.2 billion to Balochistan. The WB-portfolio in Punjab and Khyber Pakhtunkhwa was reviewed in today's session. The objective of the 3-days portfolio review meetings is to assess the progress of ongoing WB-funded projects, discuss implementation issues and suggest remedial measures to tackle those issues in a timely manner to ensure smooth implementation of projects and maximize disbursements in provinces. Moreover, pipeline projects are also being discussed to ensure their alignment with national priorities, readiness and timely approval of PC-Is/IIs. On the last day of portfolio review, the projects related to tourism, irrigation, climate change, skill development, education, urban cities development and economic revitalization programs came under discussion. During the portfolio review, Minister for Economic Affairs highlighted the government priorities especially in tourism, education, infrastructure development and growth of environment friendly projects. The Minister also directed the lined departments to remove the impediments and expedite the pending actions to ensure timely implementation of the projects. Mr. Najy Benhassine, World Bank country director thanked the Minister Mr. Bakhtyar for portfolio review exercise, which lasts for consecutive three days. He also appreciated government’s resolve to expedite the process of execution of WB-funded projects.