WASHINGTON, December 12 – Today, World Bank Group President David Malpass met with President Umaro Sissoco Embaló of Guinea-Bissau.
President Malpass congratulated President Embaló on his election as the chairman of the Economic Community of West African States (ECOWAS) and discussed with President Embaló ongoing security and economic challenges facing the region and Guinea-Bissau. President Malpass emphasized to President Embaló the World Bank Group (WBG’s) commitment to strengthening rule of law and building greater resilience of institutions and communities in conflict and at-risk areas and supporting economic reforms. President Malpass also highlighted the importance of political stability and good governance to private sector development and growth.
President Malpass and President Embaló discussed Guinea-Bissau’s efforts to address ongoing fertilizer and energy shortages. President Malpass and President Embaló discussed the need for greater reforms in the power sector to improve electricity access and grid reliability. President Malpass emphasized the urgency of improving operational and financial performance of the national utility – Electricidade e Águas da Guiné Bissau (EAGB) – and reaffirmed the WBG’s commitment to provide policy advice and technical assistance to the sector.
President Malpass and President Embaló also exchanged views on the collaboration between the WBG and Guinea-Bissau, including forthcoming discussions on the Country Partnership Framework (CPF). President Malpass and President Embaló held productive talks on fiscal and structural reforms. In this context, President Malpass mentioned the upcoming Public Expenditure Review for Guinea-Bissau, which will include detailed policy recommendations to increase the efficiency of public spending and improve public sector management.
