WB Board discusses assistance strategy for Burundi

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.