Pakistan - RISE-II Development Policy Financing - Chair Summary

Jul 19, 2026

Executive Directors approved an IDA credit of US$350 million for Pakistan’s Second Resilient Institutions for Sustainable Economy (RISE-II) Development Policy Financing, under the terms in the Memorandum of the President. Directors expressed broad support for the operation, emphasizing its relevance for macroeconomic stabilization during a critical period. They highlighted reforms led by authorities, with assistance spanning fiscal management, consultation across the political spectrum, and strong monitoring of implementation. They also urged continued engagement during political transition, improved services for youth and women, trade deficit strategy, domestic resource mobilization, expanded tax revenue, and stronger poverty alleviation and social safety nets.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

AccessFree to download

Executive Summary

Approval and Financing Terms

Reform Support and Stakeholder Consultation

Risk Mitigation and Implementation Monitoring

Priorities: Youth, Women, Trade, Resources, Poverty

Public Disclosure Authorized Public Disclosure Authorized Pakistan Second Resilient Institutions for Sustainable Economy (RISE-II) Development Policy Financing Chair Summary* December 19, 2023 Executive Directors approved an IDA credit in the amount of US$350 million for the Pakistan Second Resilient Institutions for Sustainable Economy (RISE-II) Development Policy Financing on the terms and conditions set out in the Memorandum of the President. Directors expressed broad support for the operation and acknowledged its relevance to support macroeconomic stabilization at a critical time for Pakistan. They welcomed the important reforms being undertaken by the authorities, with support of the ambitious RISE series and the complementary investment and results-based operations and technical assistance, particularly on fiscal management. They welcomed the consultation with all stakeholders and across the political spectrum to allow for widespread support of the reform process and encouraged strong monitoring of implementation. Directors acknowledged the truncation of the RISE series to two operations considering the upcoming elections scheduled in February 2024. They noted governance, economic and political risks associated with the operation and encouraged the Bank to continue engaging authorities during political transition in order to implement the reform program, mitigate risks, and restore stability and a sustained growth path through ongoing operations. They called for continued and improved access to services and opportunities for youth and women, efforts to develop strategies to address the trade deficit, focus on domestic resource mobilization and expanding tax revenue, and strengthening poverty alleviation and social safety nets. Directors encouraged the Bank to continue close collaboration on a sustainable reform agenda with the International Monetary Fund, the Asian Development Bank, the Asian Infrastructure Investment Bank, and other development partners. *This Summary is not an approved record.

FAQs

What did the Executive Directors approve for Pakistan under RISE-II?

They approved an IDA credit of US$350 million for the Pakistan Second Resilient Institutions for Sustainable Economy (RISE-II) Development Policy Financing, according to the Memorandum of the President.

Why did Directors view the RISE-II operation as timely and important?

Directors linked the operation to macroeconomic stabilization at a critical time for Pakistan and to support for ambitious reforms.

What implementation and policy priorities did Directors emphasize beyond stabilization?

They encouraged continued engagement during political transition, improved access to services and opportunities for youth and women, strategies to address the trade deficit, stronger domestic resource mobilization and tax revenue, and strengthened poverty alleviation and social safety nets.

Jul 19, 2026

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