$35 million for public, private sector reforms in the face of global economic volatility
WASHINGTON, March 27, 2012 – The World Bank will support Mauritius on key reforms to both the public and private sectors through two Development Policy Loans approved today. Key objectives are to create a better social safety net system for the country’s most vulnerable people and to foster private sector competitiveness, as the country prepares to weather global economic uncertainties.
A loan of US$20 million for public sector reform aims to strengthen programs that support and empower poor people, streamline trade regulations and processes, and improve performance of the civil service. A complementary $15 million will support the government’s efforts to foster the growth and viability of private enterprise, improve access to finance, and promote ICT and e-Government. Both loans will also be supported by just-in-time knowledge services, including on higher education and infrastructure.
“The World Bank is supporting ongoing reforms in Mauritius that build on the country’s long history of strong economic growth,” said Haleh Bridi, World Bank Country Director for Mauritius, “In the face of global economic volatility, Mauritius is taking robust steps to maintain healthy growth, to ensure that the poorest and most vulnerable people are not left behind, and to do away with systemic inefficiencies.”
Public sector reforms supported by the World Bank are designed to transform the country’s existing social safety net into a more effective and efficient system that targets the poorest people and helps reduce their vulnerability. Reforms will also target the currently high failure rate of students at the primary school level and will help to improve students’ access to good-quality secondary education.
To make firms in Mauritius more competitive, private sector reforms will support alignment of the country’s higher education with the skills needed by the private sector; easier access to credit and financial services for firms; an improved investment climate; and greater penetration of broadband internet.
“These reforms are expected to help Mauritius build human capital more rapidly, continue to reduce poverty, and further improve the ease of doing business,” Bridi concluded.