WASHINGTON: World Bank Group President David Malpass has urged Pakistan to implement fiscal and energy reforms to stabilise the economy and lay the foundation for sustained growth.

Mr Malpass, who met Finance Minister Ishaq Dar and Minister for Economic Affairs Ayaz Sadiq in Washington on Thursday, encouraged Pakistan to “focus on the implementation” of these reforms, a World Bank statement said.

Regretting the loss of lives and livelihoods due to the devastating floods, Mr Malpass acknowledged that “Pakistan is among the countries most affected by climate change, causing devastating damage to infrastructure and agriculture production.”

Finance Minister Dar thanked the World Bank for its support to rescue and relief operations in the flood-hit areas and in return received an assurance from Mr Malpass that the bank would continue to work with Pakistan in overcoming the socio-economic challenges caused by the floods.

Mr Malpass reaffirmed the bank’s commitment to supporting Pakistan’s urgent needs in health, food, shelter, and cash transfers.

He noted the bank’s active engagement in raising assistance from bilateral donors and emphasised the “importance of predictable economic policies to restore macroeconomic stability and market confidence,” said the statement issued by his office.

“During my talks with Minis­ter Muhammad Ishaq Dar, I was happy to reaffirm the World Bank Group’s support for Pakis­tan’s flood recovery efforts,” Mr Malpass said in a tweet.

“Glad for his thoughts on the importance of Pakistan’s fiscal and energy reforms,” he added.

Climate-induced disasters have been the focus of discussions both inside and outside the World Bank headquarters this week where financial leaders from across the globe are meeting to review the world economy.

The finance minister also held separate meetings with IMF Deputy Managing Director Antoinette Sayeh and Islamic Development Bank President Dr Muhammad Sulaiman Al Jasser.