Dili, February 9, 2012 – Today, during a one-day seminar organized by World Bank Office with Commission C of National Parliament, World Bank Country Manager lauded National Parliament for its leadership in enacting the transitory pension scheme known as “Lei do Regime Transitório de Segurança Social” recently on January 25th, 2012
“This is an excellent step to developing a worker’s pension, but challenges still remain. Pensions represent a major change to the structure of the social protection system in Timor-Leste” said Luis Constantino.
The seminar marked by a number of presentations by World Bank’s economist, Advisors to the government and followed by intensive discussions on issues revolving around the design and implementation of pension scheme.
The one-day seminar was co-hosted by both World Bank office in Timor-Leste and Commission C of National Parliament that oversees the matter of Economic, Finance, and Anti-Corruption, and it was attended by 20 guests ranging from member of parliaments, World Bank’s economist and experts on social issues, development partners, intellectuals and civil societies.
On his closing remark, Luis Constantino pledged World Bank’s continuing support to the Government of Timor-Leste, “World Bank will continue to offer support to the government of Timor-Leste to implement its pension system and we know that many other development partners also stand ready to support these important efforts”.
This one-day seminar is part of regular trimester-seminar hosted by both World Bank in Timor-Leste and Commission C of National parliament in effort to strengthening the partnership between two institutions. The previous seminar was on Public Investment Management. It was held in Tibar, Liquiça
Established in 1945, The World Bank’s mission is working to reduce poverty in the world. Inclusive growth, support to livelihoods and strengthened institutions are long-term goals for the World Bank’s work in Timor-Leste.