Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 321

World Bank Group Continues Strong Partnership with the Russian Federation

Posted by fidest press agency su giovedì, 22 dicembre 2011

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Image by didkovskaya via Flickr

Washington, The World Bank Group’s Board of Executive Directors today discussed a new Country Partnership Strategy (Strategy) for the Russian Federation for the period 2012 – 2016. The Strategy serves as the business plan of the World Bank Group in support of Russia’s own development agenda. Following the previous Strategy, it also continues the shift to innovative modalities of engagement at the global, regional (i.e., less developed countries in ECA), and national (federal and sub-national) levels. It aligns the World Bank Group’s program with the emerging Russia’s “Strategy 2020” update and other strategic documents, which have already made progress towards a consensus view in the country. It has been designed to be a demand-driven and flexible document to enable the World Bank Group to provide a timely and sustainable response to changes in Russia’s economic priorities. A Country Partnership Strategy Progress Report in 2014 will take stock of implementation and will allow the World Bank Group, in consultation with the authorities and other partners, to make mid-term adjustments in the strategy to ensure continued alignment with government priorities.
The Strategy was prepared in close dialogue with the Government of Russia and in consultation with the representatives of federal and local governments, civil society and business communities, think-tanks, academia, and other stakeholders. The main purpose of the consultations was to discuss progress achieved during the last Country Partnership Strategy period, to identify existing successful approaches to socio-economic development in Russia’s regions, and to learn in which areas or sectors the authorities would desire the most support. The 2012 – 2016 Country Partnership Strategy will support Russia’s efforts to:
1. Increase growth and diversification through better management of public finances, improved investment climate and innovation, a stronger financial sector, better infrastructure, and more effective protection of the environment;
2. Expand human potential by strengthening skills and social services through improvements in education, health, and social protection;
3. Deepen Russia’s global and regional role related to its aspirations as a donor and the provision of global public goods; and
4. Improve governance and transparency through more accountability and better service standards in public administration, procurement, and financial management (as a cross-cutting theme).
Russia is an extremely important partner for the Multilateral Investment Guarantee Agency (MIGA), and is a country where MIGA has a long history of providing guarantees for private sector projects. Looking ahead, MIGA remains committed to encouraging developmentally sound foreign investments in Russia. It will also keep providing investment guarantees to Russian companies going to invest overseas.

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