World Bank's new country director for Pakistan to take charge tomorrow

The World Bank has appointed Bolormaa Amgaabazar as its new country director for Pakistan effective July 1, succeeding Najy Benhassine, who held the role since 2020.

Amgaabazar steps into the role as the World Bank launches a new 10-year Country Partnership Framework (CPF) for Pakistan, committing up to $40 billion through its financing arms. Approved earlier this year, the CPF will focus on reducing child stunting, enhancing education, strengthening climate resilience, and supporting structural reforms to spur private sector-led growth.

“The World Bank and Pakistan share a long-standing partnership that has benefited millions,” Amgaabazar said. “I look forward to deepening our collaboration with federal and provincial governments, civil society, the private sector, and development partners.”

A Mongolian national, Amgaabazar joined the World Bank in 2004. She has held leadership positions in the Kyrgyz Republic, Indonesia, and Timor-Leste, and worked across East Asia, Africa, Eastern Europe, and Central Asia. Before joining the Bank, she worked in international development in Mongolia and Southeast Asia.

“We will continue supporting Pakistan in addressing key challenges including child stunting, learning poverty, climate vulnerability, and energy sector sustainability,” she added.

Since its inception in Pakistan in 1950, the World Bank Group has provided over $48.3 billion in assistance through the International Bank for Reconstruction and Development (IBRD). The International Finance Corporation (IFC) has invested around $13 billion to foster private sector development, while the Multilateral Investment Guarantee Agency (MIGA) has offered $836 million in guarantees to encourage foreign direct investment.

Currently, the World Bank Group’s portfolio in Pakistan comprises 106 projects with a total commitment of $17 billion.

Pakistan has faced ongoing economic challenges in recent years. It remains under a $7 billion IMF bailout, which mandates fiscal reforms, increased revenue generation, and securing external financing—much of it reliant on loans from China and Gulf nations.