ISLAMABAD: Following his first official contact with the new government in Pakistan, World Bank Vice President for South Asia region, Hartwig Schafer said the bank was ready to support the reform plans of the new PTI government.

The commitment was made by Schafer during his official meetings with the government and key counterparts to discuss the country’s development priorities and reform agenda.

‘Reform plans are needed to stabilise the economy and accelerate growth to end poverty and boost prosperity,’ Schafer said at the end of his two-day official visit to Pakistan.

Entrusted with a portfolio of financial support worth more than $50 billion, Schafer, a German national, will be responsible for achieving the World Bank’s goals of ending extreme poverty and boosting shared prosperity in a region that is home to roughly a third of the world’s poor.

“I am impressed to learn about the Government of Pakistan’s plans for investing in human capital and creating jobs, attracting investments through ease of doing business and better regional connectivity, improving infrastructure and services in Karachi, and strengthening the management of water and the environment,” he said.

“We look forward to engaging with the federal and provincial governments and providing support to implement urgent reforms needed to stabilise the economy and achieve accelerated growth in the medium term,” he said.

Schafer, who was recently appointed as World Bank Vice President for the South Asia Region, has almost a thirty-year career in technical and managerial positions at the World Bank as well as the European Commission.

Published in Dawn, August 30th, 2018