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New World Bank Group Strategy Focuses on Private Sector
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| New World Bank Group Strategy Focuses on Private Sector by Passkenny48(m): Fri 29, May, 2020 05:25am |
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The World Bank Group strategy is focused on strengthening the foundations for private sector led growth, particularly in agriculture and tourism; improving the quality of public services by promoting investments in education, health, social protection, water and sanitation; and raising productivity by connecting communities, especially farmers, through investments in transport and digital infrastructure.
The strategy will be carried out by the Bank Group’s member organizations, which include the World Bank, the International Finance Corporation (IFC), which focuses on the private sector, and the Multilateral Investment Guarantee Agency (MIGA), which offers political risk insurance and credit enhancement guarantees. The new strategy is underpinned by a Systematic Country Diagnostic, the World Bank Group’s comprehensive analysis of the opportunities and challenges for Timor-Leste to end extreme poverty and increase shared prosperity. The CPF also reflects consultations with government, development partners, the private sector, civil society and academia. The Country Partnership Framework builds on work undertaken under the previous Country Partnership Strategy. which has delivered benefits including climate resilient infrastructure with the 110 kilometer Dili to Ainaro road project, reduced impact from natural disasters for over 60,000 people living along the road corridor, improved nutrition practices for families in over 300 villages in Baucau and Viqueque and access to savings and credit for over 13,000 people, especially women entrepreneurs through the IFC’s investment in the Kaebauk Investimentu no Finansas microfinance institution.
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