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World Bank approves Guyana’s 2009-2012 Country Assistance Strategy

Jun 02, 2009 News

The World Bank Board of Directors, has approved the new Country Assistance Strategy (CAS) for Guyana, for the period 2009 and 2012, in support of the country’s development agenda in the areas of improving education, social safety nets and strengthening its ability to mitigate the effects of natural disasters and climate change.
Executives say they have been impressed with the Guyana’s macroeconomic performance over the past decade, and recognised the progress made in improving fiscal discipline.
The Bank, in a press release, quotes Country Director for the Caribbean, Yvonne Tsikata, as saying: “Guyana has made significant progress in laying the foundations for macroeconomic stability and higher pro-poor growth. The Country Assistance Strategy, continues this partnership and supports the country in areas where the Bank’s support could strategically complement other donors’ areas of engagement.”
According to the release, the institution’s lending programme, its technical assistance, as well as its analytical work, all support the government’s objective of accelerating and sustaining growth, and were developed in with its full co-operation.
The Bank said that it benefited from consultations with civil society, the private sector and other development partners.
According to the Bank, the two main strategic areas of support identified in the CAS are: Strengthening environmental resilience and sustainability, and improving education quality and social safety nets.
Under the first area, the Bank will support the government’s efforts and leadership in this quarter, by helping to establish pilot forest areas that are protected and sustainably managed by local communities, as well as help strengthen its ability to reduce exposure to natural disasters and global climate risk.
The Bank will also help Guyana improve the quality of education, through reform of teacher training and better service delivery, and help strengthen the capacity of Government to deliver an enhanced social protection programme.
The Bank’s Executive Directors, have emphasised the importance of accelerated broad-based and shared growth, in order to alleviate the development challenges of high poverty and inequality, the release stated.
They’ve also underscored the significance of Guyana’s economic diversification, through private sector development, and emphasised the need to have the International Finance Corporation, the arm of the World Bank Group that supports the private sector, actively involved in the country, the release said. (Caribbean Netnews)

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