IMF, World Bank heads express sympathies as PM Shehbaz highlights flood devastation on UNGA sidelines

NEW YORK – IMF Managing Director Karistalina Georgieva and World Bank Group President David Malpass have expressed sympathies as Prime Minister Shehbaz Sharif utilized sideline meetings of the UNGA to put the spotlight on devastating floods in Pakistan.

The top financial institution's officials pledged commitment to support the flood-hit nation for rehabilitation and reconstruction of infrastructure.

The premier departed for New York to represent Pakistan at United Nations General Assembly (UNGA) and will address the session, where his speech will focus on challenges faced by South Asian country in wake of the catastrophic floods that wreak havoc across the country.

IMF Managing Director Karistalina Gerogieva expressed her deep sympathy over the devastation caused by the floods during meeting with PM Shehbaz. Gerogieva called meeting with PM Shehbaz constructive, saying IMF will continue to support Pakistan under the current program to help ease the pain of the people.

Ms. Karistalina Georgieva, Managing Director of IMF, calls on Prime Minister Muhammad Shehbaz Sharif on the sidelines of 77th Session of UNGA.#PMPakatUNGA pic.twitter.com/YVOUtdQCAI

— Prime Minister's Office (@PakPMO) September 21, 2022

In his meeting with World Bank Group President David R. Malpass, the two sides shed light on to strengthen country’s infrastructure, agriculture, rural and urban development, social service, as well as economic growth.

PM commended World Bank’s partnership with Islamabad and apprised him of the government’s steps to introduce economic policies focused on strengthening the economy, price stability and maintaining the sustainability of the external and fiscal sectors.

Reports claimed that the premier also called for additional investment and financial resources from the world to mitigate the devastating impact of climate change.

He also expressed the World Bank Group’s readiness to support Pakistan in its reconstruction and rehabilitation endeavors and committed to repurposing $850 million immediately to help Pakistan with its flood relief efforts.

The two sides also agreed to continue working together to strengthen governance and service delivery in Pakistan through institutional reforms.