WB Board dis­cusses as­sis­tance strat­egy for Bu­rundi

The Pak Banker - - Front Page -

WASH­ING­TON

The World Bank’s Board of Ex­ec­u­tive Di­rec­tors dis­cussed a new Coun­try As­sis­tance Strat­egy ( CAS) to sup­port Bu­rundi’s de­vel­op­ment strat­egy and lay a firm foun­da­tion for growth and poverty re­duc­tion. The Board also ap­proved the Sixth Eco­nomic Re­form Sup­port Grant (ERSG VI) to the Repub­lic of Bu­rundi in the amount of SDR 16.5 mil­lion ( US$ 25 mil­lion equiv­a­lent).

The four-year CAS cov­er­ing the 2013-2016 is aligned with Bu­rundi’s de­vel­op­ment pri­or­i­ties spelled out in the coun­try’s sec­ond Poverty Re­duc­tion Strat­egy Pa­per (PRSP II). It will fo­cus on two strate­gic ob­jec­tives namely, im­prov­ing com­pet­i­tive­ness by es­tab­lish­ing an en­abling en­vi­ron­ment for in­clu­sive growth and poverty re­duc­tion; and in­creas­ing re­silience by con­sol­i­dat­ing so­cial sta­bil­ity.

The CAS which is the Bank’s busi­ness plan for Bu­rundi will lay the foun­da­tion for faster and more in­clu­sive growth and help mit­i­gate risks of re­newed in­sta­bil­ity by build­ing trust be­tween the state and its cit­i­zens. The process lead­ing up to the new CAS fo­cused on a se­ries of mul­ti­stake­holder con­sul­ta­tions in­clud­ing with key Gov­ern­ment in­sti­tu­tions, par­lia­men­tar­i­ans, civil so­ci­ety or­ga­ni­za­tions, me­dia, academia, pri­vate sec­tor, and so­cial ac­count­abil­ity agen­cies. The new CAS will also main­tain and in­crease sup­port for pub­lic fi­nan­cial man­age­ment and bud­get plan­ning, im­prov­ing the busi­ness cli­mate, and height­en­ing agri­cul­tural pro­duc­tiv­ity. This is expected to help boost Bu­rundi’s ex­port com­pet­i­tive­ness.

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