THE WORLD BANK LAUNCHES THE NEW PLAN OF SUPPORT FOR AFRICA

THE WORLD BANK HAS TODAY LAUNCHED THE NEW PLAN OF SUPPORT FOR AFRICA ENTITLED “AFRICA’S FUTURE AND THE WORLD BANK SUPPORT TO IT” WITH SHIFTS FROM A MORE GENERAL FOCUS ON SEEKING ECONOMIC STABILITY AND SOUND FUNDAMENTALS TO EMPHASIZE THE NEED FOR ATTENTION IN THREE KEY AREAS.

THE THREE KEY FUNDAMENTAL AREAS ARE COMPETITIVENESS AND EMPLOYMENT, VULNERABILITY AND RESILIENCE AND GOVERNANCE AND PUBLIC SECTOR CAPACITY.

SIGNIFICANTLY THE NEW STRATEGY REVERSES THE ORDER OF IMPORTANCE OF THE BANK’S INSTRUMENTS TO SUPPORT AFRICA AND MOST IMPORTANT INGREDIENTS WILL BE PARTNERSHIPS, KNOWLEDGE AND FINANCE.

SPEAKING VIA VIDEO CONFERENCE FROM THE  FRANCH  CAPITAL PARIS TODAY, THE WORLD BANK VICE PRESIDENT FOR AFRICAN REGION OBIAGELI EZEKWESILI SAID IN IMPLEMENTING THE STRATEGY, THE WORLD BANK GROUP WILL REMAIN ENGAGED WITH CITIZENS AS THEY DEMAND GREATER PARTICIPATION IN THE BENEFITS OF IMPROVED ECONOMIC PERFORMANCE. SHE ADDS THAT THE PLAN WILL DEPLOY PARTNERSHIPS, KNOWLEDGE AND FINANCE TO WORK WITH GOVERNMENTS, PRIVATE SECTOR, CIVIL SECTOR AND OTHER PARTNERS AND HELP COUNTRIES TO SPEED UP THE ATTAINMENT OF THE MILLENNIUM DEVELOPMENT GOALS , EXPAND ECONOMIC PROSPERITY AND REDUCE POVERTY.

MRS. EZEKWESILI EXPLAINED THAT ON COMPETITIVENESS AND EMPLOYMENT, THE PLAN WILL ASSIST COUNTRIES TO DIVERSIFY THEIR ECONOMIES AND GENERATE JOBS AND FURTHER CLOSE THE GAP BETWEEN INFRASTRUCTURE NEEDS AND INVESTMENTS.

AND THE PLAN ON VULNERABILITY WILL FOCUS ON BETTER HEALTH CARE, DEALING PREEMPTIVELY WITH THE EFFECTS OF CLIMATE CHANGE THROUGH IMPROVED IRRIGATION AND WATER MANAGEMENT, AND STRENGTHENING PUBLIC AGENCIES TO SHARE RESOURCES MORE FAIRLY.

THE WORLD BANK VICE PRESIDENT FOR AFRICAN REGION FURTHER EXPLAINED THAT ON GOVERNANCE AND PUBLIC SECTOR CAPACITY, THE PLAN WILL ALSO WORK DIRECTLY WITH GOVERNMENTS TO HELP THEM IMPROVE THEIR SYSTEMS AND CAPACITY TO DELIVER BASIC SERVICES AND MANAGE ACCOUNTS.

AND THE WORLD BANK’S CHIEF ECONOMIST FOR AFRICA SHATAYANANA DEVARAJAN SAYS  THE STRATEGY IS MUCH A REFLECTION OF WHAT AFRICAN PEOPLE AND LEADERS AS IT THE THINKING OF THE BANK.

AND THE WORLD BANK’S COUNTRY MANAGER KAPIL KAPOOR SAYS  WITH THIS LAUNCH OF THE PLAN, ZAMBIA’S EMPHASIS WILL HAVE TO BE ON JOB CREATION AND GOVERNANCE.

##########