ISLAMABAD: Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held a meeting with Mr. Najy Benhassine, Country Director, World Bank and his team at Finance Division, today.

The Finance Minister welcomed Mr Najy Benhassine and his team and shared economic challenges that Pakistan is currently facing. He said that the present government was cognizant of those issues and was taking pragmatic steps to resolve bottlenecks to growth.

The present government is committed to set the economy on sustainable and inclusive growth path. He also informed about the devastations caused by the recent floods in the country. Mr Najy Benhassine extended felicitations to the Finance Minister on assuming the charge of the office and briefed on existing programs and future cooperation of the World Bank for Pakistan.

He informed the Finance Minister that the Bank is allocating $2 billion funds from existing World Bank financed projects for emergency operations in flood affected areas to support Pakistan. He further informed that around $1.5 billion funds would be mobilized this year due to emergency situation. Mr Dar appreciated the World Bank for being a source of support in pursuing reform agenda and implementing various development projects for the country.

He further said that Pakistan values the financial and technical support provided by the World Bank for the institutional reforms and economic development of the country. The Finance Minister assured Mr Najy Benhassine and his team of meeting prior actions for timely completion of programmes and thanked them for their continuous support and facilitation.