The WBG recently re-engaged with the Surinamese authorities after a 30-years hiatus. In September 2011, Suriname became member of the IFC. The FY2013-2014 Interim Strategy Note was approved by the Board on October 18, 2012 with a portfolio of a selected number of knowledge-based products to provide the basis for future engagements but not lending. The Interim Strategy was successfully implemented.
In 2014, the Government of Suriname requested additional support from the WBG which led to the preparation of a new Country Partnership Strategy (CPS) to cover the period 2015-2018. This was finalized and endorsed by the Board of Executive Directors in December 2014. It was the first comprehensive strategy in 30 years.
The new strategy proposes a lending program of about US$ 60 million to support Suriname’s efforts in leveraging and sustaining its economic growth through greater social inclusiveness and economic diversification.
Guided by the priorities of the government’s National Development Plan, the overarching goal of the CPS program is to support Suriname’s efforts to promote a more sustainable, inclusive, and diversified growth model through two areas of engagements:
- creating a conducive environment for private sector development;
- and reducing vulnerability to climate change-related floods.
The program also includes one cross cutting theme to improve the capacity to measure and analyze data on poverty and gender for evidence-based policy-making, in particular with regard to reducing poverty and boosting shared prosperity.
The CPS lays out the WBG partnership program with Suriname, jointly prepared by the Government of Suriname and the World Bank Group, comprised by the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).
In mid-2012 IFC provided a trade financing credit line of up to US$5 million to boost Surinaamsche Bank’s international trade business. IFC is currently actively exploring investment and advisory opportunities in Suriname.
Last Updated: Apr 01, 2015