World Bank Group Urges Pakistan Job Creation

World Bank Group President Ajay Banga has urged Pakistan to create up to 30 million jobs over the next decade to leverage its youth bulge into an economic dividend, warning of potential instability and outward migration if this goal is not met. During his visit to Karachi, Banga highlighted that job creation is the 'North Star' of the World Bank Group's engagement with Pakistan. The World Bank Group Group is committing approximately $4 billion annually through a 10-year Country Partnership Framework, with half expected from private-sector operations led by the International Finance Corporation. Pakistan's job strategy focuses on investment in human and physical infrastructure, business-friendly regulatory reforms, and expanded access to financing for small firms and farmers. Banga also stressed the urgent need to fix Pakistan's debt-ridden power sector, which is crucial for economic growth and job creation, and emphasized integrating climate resilience into development spending.