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Posted - 15 May 2022 : 14:43:25
https://thepoint.gm/africa/gambia/headlines/wb-group-approves-new-country-partnership-framework-for-gambia
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“The Gambia is at a critical juncture in its development trajectory having made headway on key reforms and service delivery but still facing challenges in its emergence from fragility. This CPF will help accelerate the country’s transition and support the Government’s vision for sustainable, resilient, and inclusive growth,” said Nathan Belete, Country Director for The Gambia, Cabo Verde, Guinea Bissau, Mauritania, and Senegal.
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#Headlines
WB Group approves new country partnership framework for Gambia
May 13, 2022, 12:01 PM
Press release
WASHINGTON, MAY10, 2022—The World Bank Group Board of Executive Directors today endorsed a new Country Partnership Framework (CPF) for the period of 2022-2026 to support The Gambia’s development priorities.
“The Gambia is at a critical juncture in its development trajectory having made headway on key reforms and service delivery but still facing challenges in its emergence from fragility. This CPF will help accelerate the country’s transition and support the Government’s vision for sustainable, resilient, and inclusive growth,” said Nathan Belete, Country Director for The Gambia, Cabo Verde, Guinea Bissau, Mauritania, and Senegal.
Building on past and ongoing assistance, the CPF aims to scale up WBG assistance and increase engagement from the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) in support of three CPF Focus Areas.
Focus Area 1 to Strengthen Transparency, Accountability, and Effectiveness in Governance will support a whole-of-government approach to improve state-citizen relationship, transparency and accountability.
Focus Area 2 to Enable Inclusive and Resilient Private Sector Driven Job Creation will promote inclusive and sustainable economic growth by creating an enabling business environment that fuels job creation by investing in infrastructure, strengthening the role of commercial agriculture, boosting the tourism sector, and increasing urban, coastal and climate resilience.
Focus Area 3 to Enhance Human Capital Investments to Develop a Productive Workforce will expand ongoing engagements in basic health, COVID-19 response, social protection, and education, including exploring avenues to improve skills and employability of women and youth.
The CPF incorporates two cross-cutting principles that will underpin the entire portfolio: accelerate cross-sectoral digital transformation and empower women and girls.
“The CPF includes additional assistance from the International Development Association (IDA) IDA19 and IDA20 Turnaround Allocation which increases the grants received by The Gambia by 125% as a recognition of the Government’s commitment to addressing challenges and transitioning out of fragility as outlined in its 2021 Turnaround Strategy. This access to additional resources will deepen support for The Gambia in its effort to overcome fragility by improving service delivery, increasing transparency and accountability to citizens, and strengthening support to women, youth, and vulnerable citizens” said Feyi Boroffice Resident Representative for The Gambia.
The CPFwas developed based on a comprehensive analysis of the country’s development challenges and extensive consultationswith the government, private sector, civil society, NGOs, academia, media, women groups, youth groups, and development partners.
The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 74 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.3 billion people who live in IDA countries. Since 1960, IDA has provided $458 billion to 114 countries. Annual commitments have averaged about $29 billion over the last three years (FY19-FY21), with about 70 percent going to Africa.
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