World Bank plans to provide new US$135 million support in lending to Macedonia

World Bank plans to provide new US$135 million support in lending to Macedonia
By the end of the current Country Partnership Strategy (CPS) for Macedonia cycle, the World Bank plans to provide approximately US$135 million in new lending to support the implementation of public financial management and social services reforms, as well as investments in energy efficiency.

This is expected to bring the overall World Bank lending and trust funded program of about US$360 million for the 2015-18 CPS. In addition to this, IFC, a member of the World Bank Group which supports the private sector, will target a lending volume of US$40-60 million until the end of the CPS cycle, reads the press release of the World Bank.

A new partnership framework for the period 2019-22 will be discussed and agreed with the Government in the second half of 2018.

A Performance and Learning review (PLR) of the World Bank Group Country Partnership Strategy (CPS) for Macedonia for the period 2015-2018, assessed the implementation progress of the ongoing CPS. The review found that implementation of the program is largely on track with notable progress in improving transparency of public financial management, and efficiency of the social protection system. The Word Bank Group interventions also made satisfactory progress to create better conditions for private sector investments and links to foreign direct investments.

“The Performance and Learning Review confirmed broad alignment of the CPS program with the priorities of the current Government of Macedonia”, says Goran Tinjic, World Bank Senior Operations Officer and Task Team Leader for the PLR. “Noteworthy results were achieved in strengthening social safety nets, and before the end of 2018 we expect further progress in public financial management, investment climate, road infrastructure, education sector and municipal infrastructure.”

The current CPS is focused on two broad areas: growth and competitiveness, and skills and inclusion, with the EU accession agenda as a cross- cutting theme. The collaboration with the EU has increased during the past few years through leveraging available Instrument for Pre-Accession (IPA) funds for local and regional competitiveness in tourism, and municipal services improvement in rural areas. sk/13:52

Share with your friends: