World Bank launches new Partnership Strategy with FYR Macedonia

The World Bank Group’s Board of Directors today discussed a new Country Partnership Strategy (CPS) with FYR Macedonia for 2011-2014. The Partnership Strategy provides the framework for the World Bank Group’s assistance to the country and is fully aligned with the country’s priorities. It is grounded on a broad and continuous dialogue with the Government and consultations with key stakeholders and development partners.

The new four-year CPS envisages financing of approximately US$100 million for the first two years. The lending program for the latter two years of the CPS will be discussed with the authorities closer to the time of the CPS mid-term review.  The International Finance Corporation (IFC) expects to provide financing to the private sector of up to US$100 million during the CPS period.

“The country achieved remarkable progress over the past decade, making an impressive leap from conflict to an EU candidate. However, it now faces a more difficult external environment on its development path,” said Lilia Burunciuc, World Bank Country Manager in FYR Macedonia. “The new Country Partnership Strategy aims to accompany the Government during these difficult times with financial and knowledge advisory services that will support faster, more inclusive and greener economic growth.”

Future assistance will be directed to support EU accession and will seek to leverage financing and expertise from within the World Bank Group and across FYR Macedonia’s development partners. It will specifically focus on: 

•  Faster growth by improving competitiveness.  FYR Macedonia can build on improvements in the business climate through continued sound macroeconomic management, further efforts to reduce bottlenecks in the business environment and infrastructure, and stepped-up investments in education, including higher education.

• More inclusive growth by strengthening employability and social protection.  The CPS will emphasize continued improvement of social programs amid growing fiscal constraints.
• Greener growth through more sustainable resource use.  Key Bank Group interventions will include “win-win” investments in clean and efficient energy.  As this is an emerging area of knowledge and new subject of dialogue with the Government, the Bank will also collaborate with selected partners of FYR Macedonia on analysis on “green growth” and climate change to support adaptation and other climate sensitive policymaking. 

News source: Wordlbank link: article