Finance minister interacts with World Bank President Ajay Banga in Bangkok

Finance Minister Muhammad Aurangzeb held an informal conversation with World Bank President Ajay Banga at a dinner that Thailand's prime minister hosted in Bangkok. Business Recorder, citing a finance ministry statement issued on Friday, said the encounter was an informal exchange held alongside other high-level talks at the World Bank-IMF annual meetings.

Banga told a plenary session the lender aims to multiply its critical minerals business fivefold within five years and has named 20 potential partner countries. The bank also rolled out its first country compacts that week with multilateral partners, aimed at developing local industry and keeping jobs and value in those nations. According to the report, the bank's Metals and Minerals implementation plan earmarks $19 billion for critical minerals lending over fiscal 2026 to 2030, against $3.6 billion in fiscal 2021 to 2025.

On Thursday, Pakistan and the World Bank agreed to speed up work on the Country Partnership Framework for 2026 to 2035, with priorities including project readiness, concessional loans, human development and climate resilience. The commitment followed a meeting between Ahad Khan Cheema, Federal Minister for Economic Affairs and Pakistan's Governor to the World Bank Group, and Anna Bjerde, Managing Director of Operations. Cheema stressed the government's determination to turn these goals into visible results, and he asked for stronger technical and financial support, integrated programmes and digital monitoring to track progress.