The new Country Partnership Strategy (CPS) with the Dominican Republic 2010-2013, was presented today to the World Bank Board of Directors and it earmarks possible financial support of up to US$500 million for the country during the next four years.
“The Government, by way of the World Bank’s cooperation, will continue its efforts to strengthen public institutions, eliminate obstacles to decrease the costs and the time frames for doing business, and promote growth of the economy and competitiveness,” said Temístocles Montás, Minister of the Economy, Planning and Development, and World Bank Governor for the country.
This new Partnership Strategy with the Dominican Republic is aligned with the objectives of the National Development Strategy recently defined by the Dominican Government particularly with regard to reducing the country’s vulnerability to external factors and to obtain tangible results which benefit all Dominicans.
“The new strategy will give special emphasis to protecting the poor while enhancing competitiveness and strengthening public institutions for performance accountability in the country,” stated Yvonne Tsikata, World Bank Country Director for the Caribbean Region.
The World Bank carried out four consultations with over 200 members of civil society and the private sector in the Southern, Northern and Eastern zones and in Santo Domingo, and maintains close coordination with other international development agencies in order to ensure the new strategic alliance also includes the views of key stakeholders from various parts of society.
“The World Bank Strategy with the Dominican Republic has innovative elements which support an agenda of reforms necessary for the country, while it contributes to strengthening the necessary capacities in public institutions,” emphasized Roby Senderowitsch, Country Manager of the World Bank in the Dominica Republic. “The strategy favors the actions of non lending technical assistance, the work of the Congress, civil society and the private sector. Further, it establishes as a priority the work carried out jointly with other international development agencies operating in the Dominican Republic,” adds Senderowitsch.
The strategy assesses the challenges the country faces as a result of the global economic financial crisis and their potential impact, making efficient management of public expenditures necessary to combat the high levels of poverty and inequality in the country. It also examines the capacity to implement counter-cyclical social policies; and the need to improve the energy sector performance, as well as the country competitiveness and the impact that climate change will have on tourism as a sector.
The strategy has the following four strategic objectives:
• Strengthen social cohesion and improve access to and quality of social services.
• Promote competitiveness in a sustainable and resilient economic environment.
• Enhance quality of public expenditures and institutional development; and
• Build capacity and constituencies for reform.
The strategy presented today will place special emphasis on protecting the most vulnerable and will enhance competitiveness. It will also strengthen the mechanisms for accountability in the Dominican