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OECS REGIONAL PARTNERSHIP STRATEGY FY15-19

OECS REGIONAL PARTNERSHIP STRATEGY FY15-19. DRAFT FOR DISCUSSION. Outline. OECS Context Lessons Learned Prioritization Criteria Proposed RPS FY15-19 Program Issues for Discussion. OECS Context. OECS REGIONAL PARTNERSHIP STRATEGY FY15-19.

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OECS REGIONAL PARTNERSHIP STRATEGY FY15-19

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  1. OECS REGIONAL PARTNERSHIP STRATEGY FY15-19 DRAFT FOR DISCUSSION

  2. Outline OECS Context Lessons Learned Prioritization Criteria Proposed RPS FY15-19 Program Issues for Discussion

  3. OECS Context OECS REGIONAL PARTNERSHIP STRATEGY FY15-19

  4. OECS COUNTRIES face A NUMBER OF COMMON challenges

  5. High debt The last decade was marked by subdued growth and high debt levels Slow growth

  6. The incidence and costs of disasters have increaseD Select Damages from Disasters (% of GDP) Evolution of Damages from Disasters (US$ millions)

  7. Low growth, disasters, and insufficient inclusiveness have impacted poverty

  8. Given this background, OECS countries face a number of interrelated development Priorities LAYING THE FOUNDATIONS FOR A RETURN TO SUSTAINABLE INCLUSIVE GROWTH Growth: • Address key obstacles to growth, including in the investment climate and infrastructure • Facilitate private sector development and job creation • Accelerate public sector modernization Inclusiveness: • Enhance shared prosperity, accelerate poverty reduction, address gender issues, strengthen social protection, enhance employability (esp. women, youth) Sustainability: • Build economic, financial, fiscal, environmental, and social resilience

  9. LESSONS LEARNED OECS REGIONAL PARTNERSHIP STRATEGY FY15-19

  10. Our current Program(OECS RPS 2010-14) Key Pillars What we have achieved Comprehensive Debt Framework Caribbean Growth Forum Comprehensive framework for Disaster Risk Management Approach to improve skills and build up ICT competences Successful activities in Energy, Public Sector, Agriculture & Social Safety Nets • Building resilience • Enhancing competitiveness and stimulating growth over the medium term

  11. Lessons from the OECS RPS 2010-14 LESSONS LEARNED PROPOSED SOLUTIONS GOING FORWARD CPS based on one focused overall objective and a few key pillars and interventions A steering committee will be established with key development partners and government representative Support will be provided for regional priorities, with implemetation at national level (e.g., tourism) We will use of APLs for greater flexibility We will bringing the entire World Bank Group to the OECS • Flexibility is required to respond to evolving circumstances • Alignment to national priorities ensures stronger ownership • A combination of regional and national support enhances results • Coordination with other development partners enhances impact and efficiency • Enhanced selectivity enables sharper focus and greater impact • Quality of project designs and implementation flexibility are key

  12. PRIORITIZATION CRITERIA OECS REGIONAL PARTNERSHIP STRATEGY FY15-19

  13. We propose to focus our support on selective areas • Which: • Have a transformational impact on OECS economies • Are aligned with regional and national priorities • Will help us achieve, in the OECS, the WBG twin goals to eradicate poverty and boost shared prosperity • Coincide with areas where the WBG can bring value-added or has a strong ongoing engagement

  14. Proposed RPS FY15-19 Program OECS REGIONAL PARTNERSHIP STRATEGY FY15-19

  15. Proposed Structure of the RPS FY15-19

  16. Focus Area 1: Facilitating private sector development & job creation Objective 1: Removing key constraints to growth • Improve the business environment and investment climate • Strengthen the capacity of financial institutions to provide funding to support growth of the economy • Foster entrepreneurship and innovation • Address critical infrastructure and connectivity gaps Objective 2: Fostering industries with the highest potential for inclusive sustainable growth • Tourism • Agriculture/Agribusiness • ICT/Creative industries • Logistics/Transport

  17. Focus Area 2: Enhancing the effectiveness of the public sector Objective 3: Promoting a more effective Public Financial Management • Improve public financial and fiscal management and administration • Increase quality of public service delivery • Improve customs administration • Enhance transparency of public information • Strengthen State-Owned Enterprise (SOE) management, when suitable • Objective 4: Improving institutional capacity • Strengthen institutional capacity of the public sector • Build PPP capacity and a pipeline of bankable transactions

  18. Reduce contingent liability • Reduce disaster impact through integrating risk information in public investments • Reduce economic impact bycreating incentives for private sector resilience • Integrate disaster risk in fiscal risk and public debt management • Improve post-disaster budget response capacity • Clarify post-disaster financial assistance Focus Area 3: Managing disaster risks • Assess and quantify risks • Define and measure contingent liabilities • Establish effective administrative systems for post-disaster approval, transfer and monitoring of funds Pre-Disaster Objective 5: Increasing the capacity of OECS countries to manage natural hazards or climate change impacts • Reduce Disaster Risk • Assess Risk Assess Risks Reduce Financial Risk Secure Financing Deploy and Monitor Funding Post-Disaster

  19. Focus Area 4: Increasing social resilience Objective 6: Building the OECS human capital and strengthening the productivity of its labor force • Improve quality standards for education • Upgrade skills for jobs • Enhance capacity to plan, implement and monitor Non Communicable Diseases (NCDs) Objective 7: Strengthen the efficiency and responsiveness of social protection programs • Consolidate systems • Strengthen efficiency • Improve targeting and effectiveness

  20. Focus Area 5: Improving financial resilience Objective 8: Promoting economic, fiscal and financial resilience • Enhance risk management • Reduce vulnerability to external shocks • Strengthen banking and non banking sector • Enhance fiscal and debt sustainability

  21. PROPOSED Lending Program

  22. Financial Envelope (assumptions) • IBRD envelope FY15-19 USD 120mln (up to USD 20mln per country) • IDA-17 envelope (FY15-17) not yet known; estimated at around SDR 50 mln (roughly USD 75 mln) • DOM: SDR 11.3 mln (USD 17mln) • GRE: SDR 11.6 mln (USD 17.4 mln) • SLU: SDR 14.8 mln (USD 22.2 mln) • SVG: SDR 12.6 mln (USD 18.9 mln)

  23. ISSUES FOR DISCUSSION OECS REGIONAL PARTNERSHIP STRATEGY FY15-19

  24. ISSUEs for Discussion • Are we focusing on the right strategic priorities? Are there critical areas missing? Can this program have a transformational impact? • Which area would the OECS need additional assistance? Which areas suffers from knowledge gaps? • Are there lessons to incorporate on the way we work? Are there things we can do better?

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