World Bank’s Sri Lanka strategy targets economic stability, social inclusion

ECONOMYNEXT – The World Bank Group’s new Country Partnership Framework (CPF) for Sri Lanka up to 2020 emphasises greater macro-economic stability, improving export competitiveness and wider social inclusion.

The strategy was drawn up in talks with the government as well as through online consultations and face-to-face consultations with the public in Matara, Jaffna, Batticaloa, Kandy and Colombo, a World Bank statement said.

“The Country Partnership Framework for Sri Lanka is prepared in close collaboration with government counterparts and through an extensive consultation process with beneficiaries,” said Françoise Clottes, outgoing World Bank Country Director for Sri Lanka and the Maldives.

The CPF’s policy reform emphasis mirrors the strong policy reform orientation of the government, particularly in areas related to improving macro-fiscal stability, enhancing the enabling environment for private sector development, export competitiveness and global integration.

“Support for improving living standards in the lagging regions, including the conflict-affected areas of the Northern and Eastern regions, and strengthening education and training systems are viewed as indispensable to promoting social inclusion,” the statement said.

“Additionally, the CPF focuses on balancing development with environmental conservation and enhancing resilience to climate change, which entails protecting and managing the country’s extraordinary natural assets for sustained growth.”

The four-year strategy, approved by the World Bank Group’s Board of Directors last week, emphasises greater macro-economic stability, creating more and better jobs, improving Sri Lanka’s global competitiveness, investing in under-served people and areas, and promoting green growth.

“More and better jobs for the bottom 40 percent of the population through a more competitive economy that integrates with global value chains, inclusion of vulnerable and neglected people and areas and seizing opportunities for environmentally friendly growth, sum up the three pillars of the Country Partnership Framework for Sri Lanka,” said Rolande Pryce, Operations Advisor and Task Team Leader of the CPF.

“Improving gender equality and strengthening governance are two critical themes woven through the design of the Country Partnership Framework’s program of activities.” 
(COLOMBO, August 01, 2016)
 

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