Latest news with #BolormaaAmgaabazar
Business Recorder
31-05-2025
- Business
- Business Recorder
Aurangzeb praises World Bank's valuable contributions to Pakistan
ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb, on Friday, met with the World Bank Pakistan team, including Najy Benhassine, outgoing country director, and Bolormaa Amgaabazar, incoming Country Director for Pakistan. During the meeting, the finance minister warmly welcomed Bolormaa Amgaabazar to Pakistan and extended his best wishes for her upcoming assignment. He expressed confidence that the collaborative efforts between Pakistan and the World Bank would continue to flourish under her leadership. Ahsan vows to deepen cooperation with World Bank Aurangzeb also took the opportunity to commend Najy Benhassine for his valuable contributions and unwavering support to the Government of Pakistan throughout his tenure. He acknowledged Benhassine's role in strengthening the development partnership and wished him success in his future endeavours. Highlighting the enduring relationship between Pakistan and the WB, the minister expressed gratitude for the bank's generous financial and technical assistance across key sectors of the economy. He emphasised the importance of the recently signed 10-year Country Partnership Framework (CPF) as a pivotal element in Pakistan's economic roadmap, noting its potential to transform critical sectors through strategic and well-coordinated implementation. Aurangzeb underscored the significance of effectively executing the CPF's Country Financing Framework (CFF), describing it as essential to unlocking the full benefits of the WB's support. He particularly praised the institutional, technical, and financial backing consistently provided by the bank. The minister also highlighted the recent successful completion of the International Monetary Fund (IMF) review and the subsequent $1 billion disbursement under the Extended Fund Facility (EFF), along with additional resources made available through the Resilience and Sustainability Facility (RSF). He noted that development finance must be guided by merit and objective assessment, rising above political considerations to ensure sustainable progress. The meeting reaffirmed the mutual commitment to strengthening Pakistan's economic resilience and advancing inclusive development through strategic partnerships. Copyright Business Recorder, 2025
Business Recorder
28-05-2025
- Business
- Business Recorder
New World Bank country director calls on Cheema
ISLAMABAD: The newly-appointed Country Director of the World Bank, Bolormaa Amgaabazar, called on Federal Minister for Economic Affairs Ahad Cheema, here on Tuesday. The outgoing Country Director Najy Benhassine was also present during the meeting. The minister welcomed Amgaabazar and appreciated the contributions of Benhassine during his tenure in Pakistan. He acknowledged Benhassine's role in strengthening the World Bank's engagement with Pakistan and setting high standards of partnership. Cheema expressed confidence that the new country director would continue to play a key role in the development and implementation of the Country Partnership Framework (CPF), building on the work done under Benhassine's leadership. The minister highlighted that the federal government, with the support of the World Bank and other development partners, is actively facilitating provincial governments in the execution of development projects. He also reiterated the government's strong commitment to fiscal, energy, and economic reforms, noting that the focus remains on policies that deliver long-term, sustainable outcomes for the country. The World Bank team appreciated the government's efforts in driving reforms and strengthening collaboration with provincial governments. They acknowledged the central role played by the Ministry of Economic Affairs in ensuring effective coordination and implementation of development initiatives. Copyright Business Recorder, 2025
Business Recorder
28-05-2025
- Business
- Business Recorder
New WB country director calls on Cheema
ISLAMABAD: The newly-appointed Country Director of the World Bank, Bolormaa Amgaabazar, called on Federal Minister for Economic Affairs Ahad Cheema, here on Tuesday. The outgoing Country Director Najy Benhassine was also present during the meeting. The minister welcomed Amgaabazar and appreciated the contributions of Benhassine during his tenure in Pakistan. He acknowledged Benhassine's role in strengthening the World Bank's engagement with Pakistan and setting high standards of partnership. Cheema expressed confidence that the new country director would continue to play a key role in the development and implementation of the Country Partnership Framework (CPF), building on the work done under Benhassine's leadership. The minister highlighted that the federal government, with the support of the World Bank and other development partners, is actively facilitating provincial governments in the execution of development projects. He also reiterated the government's strong commitment to fiscal, energy, and economic reforms, noting that the focus remains on policies that deliver long-term, sustainable outcomes for the country. The World Bank team appreciated the government's efforts in driving reforms and strengthening collaboration with provincial governments. They acknowledged the central role played by the Ministry of Economic Affairs in ensuring effective coordination and implementation of development initiatives. Copyright Business Recorder, 2025
