World Bank’s new strategy will help Benin capitalize on its advantages to foster its development
WASHINGTON, April 9, 2013 – The strategic orientation of the World Bank Group’s interventions in the Republic of Benin for the coming five years (2013-2017) is structured around three main pillars: (i) strengthening governance and public sector capacity; (ii) promoting a sustainable growth, competitiveness and employment; and (iii) improving access to basic social services delivery and social inclusion. This has been approved this day by the institution’s Board of Directors who met to discuss the World Bank Group’s new Country Partnership Strategy for Benin (CPS 2013-2017).
The proposed IDA and other financing mapped to the key CPS pillars cover the following sectors: budget support; urban development; environment; telecommunications; youth employment; health, nutrition and population; capacity building; cross-border special economic zones; energy; and regional transport. The CPS does not propose to invest new IDA resources in agriculture, judicial reform, national transport, education, water and HIV/AIDS, but indicates that the Bank Group will participate in policy dialogue in these sectors by contributing some economic and analytical studies or in an advisory capacity. The total IDA allocation for Benin for the CPS period is projected around US$493.7 million. The CPS being a joint exercise for the World Bank Group, IFC’s support will complement IDA interventions to improve the business environment and in the development of private, public partnerships in social and economic infrastructure.
“The design of our new assistance strategy for Benin has been mainly guided by the principle of realism and selectivity, says Madani M. Tall, the World Bank’s Country Director for Benin, after the Board’s approval of the CPS. He added that “The World Bank Group’s resources will leverage other donors’ financing and trust funds so as to bring real development outcomes for the people of Benin”.
The CPS is the World Bank Group’s main strategy document that defines the framework and guides the institution’s interventions in the country over the agreed period. It is strongly aligned on Benin’s current poverty reduction strategy, and supports government’s medium and long term visions as set out in the “Benin Alafia 2025” document. The CPS also derives from the World Bank Africa Strategy and is informed by lessons learnt from the previous assistance strategy (2009-2012), the client survey’s main results and from the broad consultations with key stakeholders.
Source: World Bank