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New world bank strategy to support gov’t prosperity efforts

The World Bank Group has endorsed a new country partnership framework, CPF, aimed at helping Cameroon address key developmental priorities.…

The World Bank Group has endorsed a new country partnership framework, CPF, aimed at helping Cameroon address key developmental priorities.

The strategy announced on Tuesday March 28, is the result of a widespread process of consultation and exchange, which included government authorities, technical experts, the private sector, and civil society.

Elisabeth Huybens, World Bank Country Director for Cameroon says the new Country Partnership Framework for Cameroon is based on priorities developed in close consultation and engagement with all stakeholders. The framework she went on focuses on addressing multiple poverty traps in rural areas, particularly northern regions, fostering infrastructure and private sector development, and improving governance. “We look forward to working in partnership with the government, investors and civil society for the prosperity of the people of Cameroon” she said.

For her part, Vera Songwe, IFC Regional Manager for Central Africa, said the International Finance Corporation is committed to helping Cameroon’s private sector create new jobs and contribute to growth. “IFC’s investments and advisory services in the financial sector will remain a strategic priority, helping to increase access to finance for businesses across the country. We will also help reduce regulatory barriers for businesses and support the government to leverage public-private infrastructure finance mechanisms,” she said.

The strategy to run from 2017 to 2021, will see the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA) and the International Finance Corporation (IFC) work side by side to achieve tangible results in energy, transport, agriculture, ICT, health, and education.

The CPF is underpinned by the Systematic Country Diagnostics (SCD) for Cameroon, the World Bank Group’s comprehensive analysis of the opportunities and challenges to attain the World Bank’s twin goals of eliminating poverty and fostering shared prosperity in a socially and environmentally sustainable way.

 

 

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