Latest news with #MENAAP
Business Recorder
26-07-2025
- Business
- Business Recorder
World Bank MENAAP official meets Wapda chief
LAHORE: World Bank Practice Manager for Middle East, North Africa, Afghanistan and Pakistan (MENAAP) Husam Mohamed Beides, accompanied by Senior Energy Specialist Gunjan Gautam, Friday called on Chairman Wapda Naveed Asghar Chaudhry and discussed with him the matters relating to World Bank-funded Tarbela 5th Extension and Dasu Hydropower Projects. Member Water Syed Ali Akhtar Shah, GM/PD Dasu HPP Amir Shafiq-ur-Rehman and GM/PD Tarbela 5th Extension Umair Mannan also attended the meeting. It is pertinent to mention that World Bank is providing financial support worth US$1517 million and US$390 million for under-construction Stage-I of Dasu and Tarbela 5th Extension respectively. The World Bank's Practice Manager was given a rundown of the physical progress achieved so far, ongoing construction works, and schedule for completion of key activities on both projects. He was also apprised of the financial progress and monetary requirements for completion of Dasu and Tarbela 5th Extension Hydropower Projects. Speaking on the occasion, Chairman Wapda appreciated the World Bank's contribution for harnessing low-cost, clean and green energy in Pakistan through Wapda projects. He said that Wapda takes pride in being the partner in progress with the World Bank, as the biggest development portfolio of the World Bank in Pakistan relates to Wapda projects. The Chairman expressed the hope that the World Bank-Wapda partnership will further extend in the days to come. Thanking Wapda for arranging the briefing about progress of Dasu and Tarbela 5th Extension Hydropower Projects, World Bank's Practice Manager lauded the efforts made by Wapda for improving the ratio of environment-friendly electricity in the National Grid and mitigating adverse impact of climate change. He said that the World Bank and Wapda will continue exploring avenues for mutual cooperation for hydro development in Pakistan. Copyright Business Recorder, 2025
Business Recorder
25-07-2025
- Business
- Business Recorder
PM tells World Bank delegation: India's IWT actions threaten key global pacts
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday slammed India's unilateral and unlawful actions affecting the Indus Waters Treaty (IWT), warning that they pose a serious threat to key international agreements. In a meeting with Ousmane Dione, Vice President of the World Bank for MENAAP, Prime Minister Shehbaz Sharif welcomed what he described as the bank's 'principled' support for Pakistan's position on the water dispute with India. He reiterated Islamabad's demand for adherence to international law, portraying India's conduct as reckless and destabilising. 'We will not compromise on our water rights or regional stability,' said Sharif, calling for dialogue but emphasising the need for justice. Sharif offered strong praise to the World Bank for its longstanding partnership, specifically thanking Bank President Ajay Banga and former Pakistan Country Director Najy Benhassine for advancing the new Country Partnership Framework (CPF). The CPF, he noted, focuses on critical sectors such as energy, climate change, governance, and human capital – areas in which Pakistan is seeking urgent transformation. He also highlighted the World Bank's 'decisive' role during the catastrophic 2022 floods, which displaced millions. The bank's emergency funding, he said, was essential in kick-starting relief and reconstruction efforts. In a carefully worded response, Dione commended Sharif's reform agenda and acknowledged Pakistan's fragile yet ongoing macroeconomic recovery. He credited Sharif's government with restoring investor confidence and steering the country towards more inclusive growth. Both sides concluded the meeting with commitments to expand cooperation, with Dione describing the partnership as 'strategic' and long-term. But beneath the diplomatic formalities, Pakistan's message remained unambiguous: it will not remain silent while regional water security is put at risk. Copyright Business Recorder, 2025
Business Recorder
24-07-2025
- Business
- Business Recorder
PM Shehbaz lauds World Bank's support on Indus Waters Treaty dispute
Prime Minister Shehbaz Sharif on Thursday lauded the World Bank's principled support for Pakistan's stance on the Indus Waters Treaty, reiterating Islamabad's commitment to upholding international law and resolving regional issues through dialogue. PM Shehbaz remarks came during a meeting with Ousmane Dione, World Bank Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP), in Islamabad, where both sides discussed bilateral cooperation and reaffirmed their commitment to Pakistan's long-term development goals, read a statement released by the Prime Minister's Office (PMO). 'PM Shehbaz appreciated the World Bank's principled support for Pakistan's legitimate position in light of India's unilateral and illegal actions to undermine important international agreements like the Indus Waters Treaty,' read the statement. The prime minister expressed his sincere gratitude to the World Bank for its long-standing partnership with Pakistan. World Bank urges Pakistan to expedite $55mn power efficiency project 'He particularly thanked World Bank's President, Ajay Banga and former World Bank Country Director for Pakistan, Najy Benhassine, for their key role in advancing the new Country Partnership Framework (CPF) for Pakistan,' read the statement. The prime minister appreciated the strategic role of the CPF in Pakistan's development priorities, especially in the areas of energy, human resources, climate change and governance reforms. The Prime Minister thanked the World Bank for its assistance during the devastating floods of 2022, which helped Pakistan to launch immediate relief activities and initiate reconstruction and rehabilitation measures. Meanwhile, Ousmane Dione thanked PM Shehbaz Sharif for the warm hospitality extended to him during his visit to Pakistan. He reiterated the World Bank's commitment to further deepen and broaden Pakistan's long-standing partnership and cooperation in key sectors of the economy. As per the PMO's statement, Dion commended Pakistan's ongoing macroeconomic recovery and commended the government for leading the country towards fiscal stability and sustainable growth. The World Bank official particularly praised the reform agenda of the current administration, describing the strong leadership of PM Shehbaz as crucial in advancing institutional reforms, restoring investor confidence, and promoting inclusive economic growth.
Business Recorder
18-07-2025
- Business
- Business Recorder
MENAAP Region: Wolrd Bank team due on 20th
ISLAMABAD: A World Bank team comprising Husam Mohamed Beides, Practice Manager for Energy, World Bank Middle East, North Africa, Afghanistan and Pakistan (MENAAP) Region, will be visiting Pakistan from July 20–26, 2025. According to sources, Pakistan's Country Management Unit has moved to MENAAP region from July 1, 2025 and this would be introductory meeting with the officials from the sector, understanding Bank's ongoing energy sector portfolio and supporting its further progress. In addition to Practice Manager, the World Bank team will comprise Muhammad Anis (senior energy specialist), Waleed Saleh Alsuraih (lead energy specialist), Waqar Idrees (senior energy specialist), Gunjan Gautam (senior energy specialist), and Minahil Raza (energy specialist). World Bank's Benhassine lauds Pakistan's economic turnaround Another WB team will visit Pakistan, from July 21 to July 29, 2025, to carry out a preparation mission for boosting energy security through transmission in Pakistan (Best-Pak) program phase- 1. The mission will engage with the National Grid Company (NGC) previously known as National Transmission and Distribution Company (NTDC), the implementing agency of the project, Independent System and Market Operator (ISMO), Ministry of Energy (Power Division) and Ministry of Economic Affairs. The objective of the mission is to appraise the Phase 1 STATCOM project prepared by NGC for proposed financing by the WB. Phase-1 of the programme will finance installation of STATCOMs at key locations along the NGC network to improve voltage stability, support reliable power system operations, and enable greater integration of renewable energy to enable South-North power transfer. This will be the first deployment of STATCOM technology at scale in Pakistan. The Bank team will comprise Waleed Saleh Alsuraih (lead energy specialist), Mohammad Anis (senior energy specialist), Waqas Idrees (senior energy specialist), Ahmad Imran Aslam (senior environmental specialist), Jerome Bezzina (senior digital specialist), Ric Austria (senior power transmission Engineer), Sarah Khokhar (social development specialist), Syed Wajahat Ali Shah (procurement specialist), Mirza Omer Baig (financial management specialist), Naoki Fujioka (energy specialist); and Bahodir Amonov (energy specialist). Copyright Business Recorder, 2025
