Islamabad (APP): State Bank of Pakistan (SBP) and the World Bank (WB) have inked an agreement on technical cooperation for achieving the strategic goals under SBP’s Vision 2020.

This is the first such agreement signed by the World Bank on Reimbursable Advisory Services (RAS) with any country in South Asia region.

The signing ceremony was held after a meeting between Governor SBP Ashraf Mahmood Wathra and CEO World Bank Ms. Kristalina Georgieva in Karachi Saturday, an SBP press statement said.

SBP Strategic Plan (2016-2020) has been framed and built around to focus on the resolution of strategically important issues facing Pakistan’s economy and financial sector. While Pakistan has made significant improvements in its economic fundamentals in recent years, the SBP Strategic Plan has been developed against a backdrop of continuing challenges and a need to foster a greater intermediation role for the financial sector.