World Bank proposes export-finance products for Pakistan’s EXIM Bank

According to Business Recorder, the World Bank has suggested creating export-finance products for the Export-Import Bank of Pakistan, known as EXIM Bank, to help expand trade. The proposal surfaced at a Friday meeting in which Finance Minister Muhammad Aurangzeb met a World Bank delegation headed by Country Director Bolormaa Amgaabazar. Both sides reviewed progress under an ongoing reform partnership, as well as the government's push to lift investment, exports and private-sector growth.

The talks covered a proposed growth and jobs operation aimed at the investment climate, access to finance and labour-market outcomes. World Bank measures discussed included a unified insolvency framework, factoring legislation and steps to widen SME financing under the Prime Minister's Access to Finance initiative. Sector reforms in pharmaceuticals, medical products and agriculture were also raised, along with tariff work relating to the automotive sector.

Aurangzeb stressed moving from reform design to implementation that produces measurable gains in economic activity and jobs. Other items included capital-market roadmap work through the Capital Markets Development Council, domestic bond market development, and analysis of Pakistan's sovereign credit profile with a pathway toward further rating improvements.