The World Bank said it would try to mesh its next country strategy with the Philippine Development Plan for 2011-2016, aiming for inclusive, high and sustained growth that could generate massive employment and significantly reduce poverty. AFP PHOTO/ROMEO GACAD
MANILA, Philippines—The World Bank Group said that it would align its new country partnership strategy in the Philippines over the next three years with the Aquino administration’s national blueprint.
In a statement on Monday, World Bank said it would try to mesh its next country strategy with the Philippine Development Plan for 2011-2016, aiming for inclusive, high and sustained growth that could generate massive employment and significantly reduce poverty.
“While the Philippines has weathered the lingering global financial crisis with its strong economic fundamentals, much needs to be done to support the kind of growth that generates jobs, reduces poverty, and improves the lives of the Filipino people,” World Bank country director Motoo Konishi said.
The Washington-based lender will seek inputs from the government, private sector and civil society in preparing the July 2013 to June 2016 country strategy.
Konishi is optimistic that the new round of consultations would result in a diverse range of perspectives and recommendations for the next country strategy.
“We look forward to hearing from government officials, leaders of civil society and the business sector, as well as representatives from the academe, trade unions and other groups, whose views on the current development challenges facing the country are important in preparing the new country partnership strategy,” Konishi said.
The strategy, prepared every three years, outlines the priorities of World Bank’s support for a country, taking into account its own development plan while incorporating views from various stakeholders including government partners, civil society and the business sector.
Data from World Bank’s website showed that at the start of the 2012 fiscal year, the Philippines’ portfolio is composed of 26 active projects with a total net commitment of $2.03 billion. By sector, human development accounted for 38 percent of the total, followed by infrastructure, rural development and environment, and social development.