ISLAMABAD, Jan 15 Reuters Pakistan39;s prime minister on Wednesday welcomed a firstofitskind agreement with the World Bank for a plan to focus 20 billion in lending to the cashstrapped nation over the coming decade on development issues like the impact of climate change as well as boosting privatesector growth.

Prime Minister Shehbaz Sharif said in a post on social media platform X that a new plan known as the Country Partnership Framework announced by the World Bank overnight would focus the global institution39;s pledge of 20 billion in areas including clean energy and climate resilience in the ten years from 2026.

The World Bank said in a statement that policy and institutional reforms to boost private sector growth and expand fiscal space for government investment in crucial areas would also be key.

We are focused on prioritising investment and advisory interventions that will help crowdin much needed private investment in sectors critical for Pakistan39;s sustainable growth and job creation, including energy and water, agriculture, access to finance, manufacturing and digital infrastructure, said Zeeshan Sheikh, the World Bank39;s International Finance Corporation Country Manager for Pakistan and Afghanistan in a statement.

The World Bank has currently committed about 17 billion to Pakistan for 106 projects.

The country has teetered on the brink of economic crisis for several years and economists and international financial institutions have called for major…