World Bank endorses new Country Partnership Framework for India

The World Bank Group (WBG) Board of Executive Directors on Friday endorsed a new Country Partnership Framework (CPF) for India.

The CPF aims to support India’s transition to a higher middle-income country by addressing some of its key development priorities — resource efficient and inclusive growth, job creation and building its human capital.

The CPF aims to support India’s transition to a higher middle-income country by addressing some of its key development priorities — resource efficient and inclusive growth, job creation and building its human capital.

The India CPF represents the largest country programme of the WBG, reflecting the strong collaboration between India and the Group’s institutions — The International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA). The WBG expects to deliver $25-30 billion during this CPF period, ending in FY22.

With a fast-growing economy, global stature, and its unique experience of lifting the highest number of poor out of poverty in the past decades, India is well-positioned to become a high middle-income country by 2030.

The future of India lies in the States of India. The country’s transition to high middle-income status will be determined in large part by the effectiveness of India’s federal compact. In this context, an important focus of the CPF will be to deepen engagement with India’s States and invest in the institutions and capabilities of the states and local governments to address their development priorities.

The World Bank Group’s Country Partnership Framework (CPF) aims to make our country-driven model more systematic, evidence-based, selective and focused on the Bank’s twin goals of ending extreme poverty and increasing shared prosperity in a sustainable manner. The CPF replaces the Country Assistance Strategy (CAS). Used in conjunction with a Systematic Country Diagnostic (SCD), the CPF guides the World Bank Group’s (WBG) support to a member country.

A Systematic Country Diagnostic (SCD) informs each new CPF. The aim of the SCD is to identify the most important challenges and opportunities a country faces in advancing towards the twin goals. This is derived from a thorough analysis, and informed by consultations with a range of stakeholders.

The WBG will focus on three broad areas under the new CPF: promoting a resource efficient growth path, particularly in the use of land and water, to remain sustainable; enhancing competitiveness and enabling job creation; and investing in human capital — in health, education, skills — to improve quality and efficiency of service delivery.

Within these, some areas of deeper WBG’s engagement will include addressing the challenge of air pollution, facilitating jobs for women, increasing the resilience of the financial sector and investing in early years of children’s development. Across the sectors, the WBG will invest in harnessing the impact of new technology.

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *