BUSINESS - ECONOMY
| 2013-07-25World Bank launches new country partnership
THE World Bank Group has released a new Country Partnership Strategy (CPS) for Namibia that will guide the group’s intended support for Namibia in the four-year period ending in 2017. The bank said in a statement that enhancing state capacity and developing the private sector are the two pillars of the new strategy.
This is the first medium-term strategy for Namibia, and it seeks to deepen engagement with the country. The strategy is anchored in Namibia’s Fourth National Development Plan (NDP4) goals of promoting growth, creating jobs, and reducing inequality.
“The CPS proposes programmes that are designed to reducing poverty and promoting shared prosperity. It provides a framework for collaboration with the country to find solutions for Namibia’s development challenges,” said Asad Alam, World Bank Country Director for Namibia.
“This collaboration will be done primarily through knowledge exchange and technical cooperation,” he added.
Between 2013 and 2017, the World Bank Group’s support to Namibia will be provided to enhance the state’s capacity by strengthening government institutions’ ability to more effectively design, execute, and monitor public policies needed to realise the goals of the Fourth National Development Plan.
The initiative will support the development of the private sector by helping to improve the overall regulatory framework for investment and by providing assistance with investment transactions.
This will cover programmes aimed at improving the institutional environment for a competitive private sector and increasing productive capacity and infrastructure. Saleem Karimjee, IFC’s Country Manager for Namibia said: “Private sector development can serve as an engine for growth. We are committed to supporting the people of Namibia in helping to improve the country’s investment climate and introduce public-private partnership solutions to the provision of infrastructure, both of which are essential for job creation.”
To date, the World Bank has provided loans of US$15 million to the government, all of which has been fully repaid, grants of over US$16 million primarily through the Global Environmental Facility, and almost US$40 million by the IFC in investments in the private sector.
This is the first medium-term strategy for Namibia, and it seeks to deepen engagement with the country. The strategy is anchored in Namibia’s Fourth National Development Plan (NDP4) goals of promoting growth, creating jobs, and reducing inequality.
“The CPS proposes programmes that are designed to reducing poverty and promoting shared prosperity. It provides a framework for collaboration with the country to find solutions for Namibia’s development challenges,” said Asad Alam, World Bank Country Director for Namibia.
“This collaboration will be done primarily through knowledge exchange and technical cooperation,” he added.
Between 2013 and 2017, the World Bank Group’s support to Namibia will be provided to enhance the state’s capacity by strengthening government institutions’ ability to more effectively design, execute, and monitor public policies needed to realise the goals of the Fourth National Development Plan.
The initiative will support the development of the private sector by helping to improve the overall regulatory framework for investment and by providing assistance with investment transactions.
This will cover programmes aimed at improving the institutional environment for a competitive private sector and increasing productive capacity and infrastructure. Saleem Karimjee, IFC’s Country Manager for Namibia said: “Private sector development can serve as an engine for growth. We are committed to supporting the people of Namibia in helping to improve the country’s investment climate and introduce public-private partnership solutions to the provision of infrastructure, both of which are essential for job creation.”
To date, the World Bank has provided loans of US$15 million to the government, all of which has been fully repaid, grants of over US$16 million primarily through the Global Environmental Facility, and almost US$40 million by the IFC in investments in the private sector.
