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Philippines: World Bank Group Prepares New Country Strategy with Partners

October 22, 2012

New 3-year Strategy to align with government’s Philippine Development Plan

MANILA, OCTOBER 22, 2012—The World Bank Group will hold nationwide consultations for its new Country Partnership Strategy (CPS) that will set the direction for the Bank’s engagement in the Philippines for a 3-year period from July 2013 to June 2016.

The series of consultation meetings with the government, the private sector and civil society will take place in Makati City, Naga, Davao and Iloilo from October 23 to November 8, 2012. This is the first time that various stakeholder groups will be coming together in broader nationwide consultations to discuss the new CPS.

Prepared every three years, the strategy outlines the priorities of the World Bank Group’s support for a country, consistent with its own development plan, while incorporating the feedback and views of various stakeholders including government partners, civil society and the business sector. In the Philippines, the Bank’s country strategy is aligned with the government’s Philippine Development Plan (PDP).

The next country strategy will be presented to the World Bank Group Executive Board in July of next year. Mr. Motoo Konishi, World Bank Country Director, expressed optimism that the new round of consultations across the country will yield a diverse range of perspectives and recommendations that will inform the next country strategy.

“We look forward to hearing from government officials, leaders of civil society and the business sector, as well as representatives from the academe, trade unions and other groups, whose views on the current development challenges facing the country are important in preparing the new Country Partnership Strategy,” Mr. Konishi said.

He stressed the importance of consulting with as many stakeholders as possible, given the changing development landscape, as well as challenges in the global economic environment. “While the Philippines has weathered the lingering global financial and economic crisis with its strong economic fundamentals, much needs to be done to support the kind of growth that generates jobs, reduces poverty, and improves the lives of the Filipino people,’’ he added.

The current country strategy (July 2009-June 2013) focuses on improving governance and achieving growth that works for the poor, in line with the Government’s development objectives. The strategy supports efforts to achieve macroeconomic stability, an improved investment climate, better public service delivery for the poor and reduced vulnerabilities to income shocks and natural disasters.

The CPS is also an opportunity for even deeper collaboration between the Bank and the International Finance Corporation (IFC), the private sector financing arm of the World Bank Group, which have worked together in the areas of infrastructure, agribusiness and the financial sector.

IFC Resident Representative Jesse Ang expressed optimism that the IFC, together with the World Bank can continue to provide support in these sectors, as well as forge new paths that will secure much-needed financing for the private sector, while reducing their risks due to an uncertain global environment.

“We look forward to the coming consultations as a great opportunity to broaden our conversation with key stakeholders on how best the IFC can help deepen private sector growth that reaches all segments of society. We want to hear how we could work with them in opening up access to finance for small and medium enterprises, connecting rural households to electricity, creating jobs that benefit the poor, and improving energy efficiency and contributing to the fight against climate change,” Mr. Ang said.

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