ISLAMABAD: Bolormaa Amgaabazar has been appointed as the World Bank’s new country director for Pakistan, effective July 1, taking over from Najy Benhassine,who has served in the position since 2020.
Her appointment coincides with the launch of a comprehensive 10-year Country Partnership Framework (CPF) for Pakistan, which involves a commitment of up to $40 billion through the bank’s financial instruments. Approved earlier this year, the CPF aims to address critical issues such as reducing child stunting, improving educational outcomes, bolstering climate resilience, and advancing structural reforms to promote private sector-led growth.
Commenting on her new role, Amgaabazar stated, “The partnership between the World Bank and Pakistan has a rich history of supporting millions of lives. I am eager to strengthen our collaboration with federal and provincial authorities, civil society, the private sector, and development partners to achieve impactful results.”
A citizen of Mongolia, Amgaabazar joined the World Bank in 2004. Her extensive experience includes leadership roles across Kyrgyzstan, Indonesia, and Timor-Leste, as well as work spanning East Asia, Africa, Eastern Europe, and Central Asia. Prior to her tenure at the World Bank, she was involved in international development initiatives in Mongolia and Southeast Asia.She emphasized the bank’s ongoing commitment, saying, “Our focus remains on supporting Pakistan in tackling key challenges such as child malnutrition, learning poverty, climate change impacts, and the sustainability of the energy sector.”
Since establishing its presence in Pakistan in 1950, the World Bank Group has provided more than $48.3 billion in assistance through the International Bank for Reconstruction and Development (IBRD). The International Finance Corporation (IFC) has invested approximately $13 billion to promote private sector development, while the Multilateral Investment Guarantee Agency (MIGA) has issued guarantees totaling $836 million to attract foreign direct investment.
At present, the World Bank’s portfolio in Pakistan encompasses 106 projects with a total commitment of $17 billion.Pakistan continues to grapple with economic hurdles, including a current $7 billion bailout package from the International Monetary Fund (IMF). The program requires implementing fiscal reforms, boosting revenue collections, and securing external financial support—much of which depends on loans from China and Gulf countries.
