The above people said that Pakistan and Afghanistan would now be grouped under the region of the Middle East and North Africa (Mena), which would leave the South Asian group with six countries – India, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka.
In addition to Pakistan and Afghanistan, the region of Mena Bank Libanon, Libya, Syria, the West Bank and Gaza and Yemen, including nations – a geographically different region from South Asia.
However, the World Bank explained that both nations were classified as part of Mena to allow the “managerial supervision” of two of its group institutions – the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).
“The decision to move managerial supervision of Afghanistan and Pakistan Ista/Ida programs to the Middle East and North Africa region has been made to be in accordance with the international financial corporation (IFC), and reflects common practice outside the World Bank group, including the IMF.”
Ibrd and Ida lend to public sector projects and development programs led by the government.
In the related development with the World Bank, the Netherlands National Johannes Zutt was called the new head of the South Asia region. It will start 1 July as its new vice president and will reside in India.
ZUTT, currently the director of the country for Brazil, will focus on operations in India together with the regional center.
India is a member of the World Bank institutions – IBRD, IDA, IFC and multilateral investment agency (MIGA).
This step comes in the middle of the Indian opposition to multi -colored loans to Pakistan, including financial assistance in the amount of $ 2.4 billion approved in May the International Monetary Fund (IMF), which Pakistan is abused for public weapons assistance.
India wants to ensure that Islamabad loans ensure that they are for their purposes and not for transfer to their army.
India also demanded that Pakistan be returned to the gray list of working group for the financial action group (FATF), a global agency that fights money washing and terrorism financing. It acquires nations according to their involvement in the financing of terrorism.
Meanwhile, the bank spokesman in -mail reply: “The World Bank appointed Johannes Zutt to the new vice president of the South Asia region and replaced Martin Raiser. His appointment is effective from 1 July 2025”
ZUTT will be based in Nový Delhi, “which will serve as a new regional center for the South Asia region, in accordance with the decentralization of the World Bank to be closer to clients and improve services,” the spokesman added.
Zutt joined the World Bank in 1999 and was director of the country for Bangladesh, Bhutan and Nepal, as well as for Türkiy, Comoros, Eritrea, Kenya, Rwanda, Seychels and Somalia. He also worked as a director for strategy, results, risk and learning in Operational Policy and Country Services (OPCS).
“As a regional vice president for South Asia, Mr. Zutt will manage the relationships of the World Bank with Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka and oversees the portfolio of projects, technical assistance and financial resources worth $ 39 billion,” the spokesman added.
The Indian portfolio of the World Bank since 23 October 2024 includes 83 projects with a net commitment of $ 18.15 billion. According to the Ministry of the Indian Financial Ministry, projects are spreading across sectors such as agriculture, education, energy, environment, financing, management, health, infrastructure, macroeconomics, social, urban, urban, water and digital development.
“I am pleased to see the strong progress of development that South Asia has achieved in 10 years since I last worked in the region,” Zutt said in his statement shared World Bank spokesman in -mail answers.
Questions on Friday morning E -mail to the Indian spokesperson of the Ministry of Finance were not responsible until the press time.
India holds Pakistan responsible for the terrorist attack 22. April in Pahalgam, in which 26 people were killed.
On May 9, the IMF released the immediate payment of Pakistan of $ 1 billion for economic reforms under a package approved last year and another $ 1.4 billion to reduce vulnerability to natural disasters, despite protests from India. According to the IMF Pakistan, “he has made significant progress in the stabilization of the economy” and has made “important progress to restore macroeconomic stability despite the demanding environment”.
On this day he strongly formulated a statement, India raised concerns about the effectiveness of the IMF programs in Pakistan.
“Pakistan was a prolonged IMF debtor, with very poor results of the IMF’s implementation and adherence to the IMF program… India pointed out that the remuneration of the ongoing sponsorship of cross -border terrorism sends to the global community and exhibits financial agencies and donors for reputation and sends financial values. agencies and donors, and that is broadcasting on the privilege of global values, “based on global values.
Mint previously reported about India, which also strongly protests the decision of the Asian development bank to expand financial support to Pakistan, which warns that the funds could be abused in growing defense expenditure, which reduces the gross tax ratio of tax tax to GDP and stopped economic reforms.
FATF said it would soon be released with a thorough analysis of trends in terrorist financing and at the same time condemn the terrorist attack of Pahalgam.
(Tagstotranslate) World Bank (T) South Asia
