The Royal Government of Bhutan and the WBG also jointly conducted the Performance and Learning Review (PLR). The PLR assessed the implementation progress of the CPS to date, and based on the assessment, made necessary adjustments to the program for the remaining period of the strategy. The WBG has also started preparations of Systematic Country Diagnostics (SCD) as a basis for the formulation of its next County Partnership Framework (CPF) in alignment to the 12th FYP of the Royal Government of Bhutan. The World Bank has committed to doubling its country allocation to $100 million for Bhutan with more favorable terms between 2017 and 2020. To support Bhutan’s development with the increased availability of IDA financing with better terms, the World Bank has started strategic discussions with the Government to ensure alignment with the government preparations of the 12th FYP. Bhutan is one of about 30 Early Adopters for the Human Capital Project (HCP), a global effort to accelerate more and better investments in people for greater equity and economic growth.
World Bank’s operations are conducted through three channels: IDA credit, grants and trust-funded activities and, Advisory Services and Analytics (ASA). The Royal Government of Bhutan and the World Bank signed its first series of Development Policy Credits ($30 million) in April 2018. Second Urban Development Project ($29 million, until 2019) is under implementation with IDA credits. To complement the projects with IDA credits, the World Bank also provides support through more than nine grants / trust-funded activities including:
These activities are underpinned by ASAs. The World Bank, for example, has conducted an In-Depth Labor Study, Managing Environmental and Social Impacts of Hydropower in Bhutan, Investment Climate Assessment, Agribusiness Policy Note, Bhutan Development Update and Practical solutions for addressing labor related barriers to Bhutan’s private employment growth. Additionally, as part of World Bank’s engagement with broader stakeholders, National Council of Bhutan, the upper house, and the World Bank organized a three-day workshop on “Understanding the Fundamentals of Macroeconomics and the National Budget” in May 2018.
For further information, please contact Yoichiro Ishihara (Resident Representative and Senior Country Economist, firstname.lastname@example.org) and Tenzin Lhaden (Operations Officer and Economist, email@example.com).
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