Namibia - Country Partnership Strategy for FY2014-17 : chair's summary

 79866 Republic of Namibia World Bank Group Country Partnership Strategy for FY2014–17 Chair’s Summary ∗ Meeting of the Executive Directors July 23, 2013 Executive Directors discussed the World Bank Group’s Country Partnership Strategy (CPS) for Namibia for FY2014–17 (R2013-0126[IFC/R2013-0263; MIGA/R2013-0059]). They noted that the CPS is well aligned with Namibia’s National Development Plan IV (NDP4) which prioritizes growth, income equality and job creation. Directors commended the record of the Namibian authorities on macroeconomic stability and poverty reduction. They noted the government’s financial commitments to education, health, and social protection, and efforts in environmental conservation. However, directors noted that further reductions in poverty and inequality will require greater attention to job creation, a more concerted effort to address income inequality, enhance effectiveness of public expenditure and the extension of access to energy and other physical infrastructure to the poor in rural areas. In this regard, Directors supported the proposed Bank Group efforts to enhance state capacity and improve the business climate to stimulate investments as a positive contribution to shared prosperity in Namibia. In addition, they noted the support that the Bank Group will extend by way of knowledge services on public expenditure management and statistical capacity building to improve the effectiveness of government’s poverty reduction programs. They urged the Bank Group to remain focused on poverty and inequality especially amongst the youth and women, and to monitor gender-differentiated results of the Group’s interventions and the government’s policies. Finally, Directors welcomed the close coordination between the Bank, IFC, and MIGA. They appreciated the Bank Group’s collaboration with other development partners in Namibia. They also recognized the flexibility the strategy offers for Namibia including taking advantage of IBRD financial instruments during the CPS period, and looked forward to an update on progress. ∗ This summary is not an approved record.