The World Bank was established in 1948 with a mission to create a world free of poverty. Pakistan became a member of the World Bank in July 1950 and since then the government of Pakistan has worked with the Bank to finish poverty in Pakistan with passion and professionalism for lasting results.
The World Bank helps Pakistan by providing financial assistance in projects that are based on transforming the energy sector, provide support in private sector development, they have worked with the Government of Pakistan and reached out to the poor, neglected and underserved while accelerating improvements in public service delivery.
Since their joining the World Bank has given Pakistan $40 billion in assistance and currently the bank plans on making starting 40 new projects in Pakistan with a net commitment of $7.42 billion.
According to the World Bank, Pakistan has important strategic endowments and developmental potential and that the increasing proportion of Pakistan’s youth provides the country with a potential demographic dividend and a challenge to provide adequate services and employment.
The World Bank has also presented a report called, “Pakistan@100” which states reforms that Pakistan needs to undergo in different sectors of the economy in order to utilize the youth of Pakistan for economic growth and to move on from being a third world country. It has presented a report on the changes that need to be taken in order for Pakistan to prosper and for its people to be richer, better educated, and healthier when Pakistan turns 100 in 2047.
