'The new World Bank Group Country Assistance Strategy (CAS) for the Republic of Maldives envisages lending around US$45 million in highly concessional funds from the International Development Association (IDA) over the next five years to support the country’s development program. The strategy was prepared jointly by the World Bank and the International Finance Corporation (IFC).
The Board of Executive Directors of the Bank discussed the FY2008-2012 Country Assistance Strategy (CAS), a document that both describes the Bank’s strategic approach to helping
The strategy will deploy both lending and advisory services, as well as private sector investments, in selective interventions. These interventions seek to contribute to development outcomes including: (i) a well-managed economy attracting increased investment; (ii) improved quality of education to provide a better skilled workforce; and (iii) enhanced capacity to manage the country’s natural environment.
Across these three pillars—economic and fiscal governance, human development and social protection, and environmental management—special attention will be given to developing institutions so as to strengthen fiduciary management and to supporting the government’s plan for population consolidation. Adapting to the possible effects of global climate change, creating opportunities for diversified economic activities, and lowering the cost of public services across the many disparate islands and atolls underlie
“Maldives has made impressive development gains over the last three decades and has moved from being one of the 20 poorest countries in the world in 1978 to become a middle-income country which has the highest per capita income in South Asia,” said Alastair McKechnie, World Bank Country Director for Maldives. “
The Bank’s interventions to be funded by IDA will focus on results established by previous operations, for example, in the areas of human development and environmental management, as well as some new areas that include environmental management, mobile phone banking, and a new pensions system. Since 2000, IFC has committed $47.8 million in
The key word here, of course, is "Lending"..
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