102896
                                                   Uruguay

                                 Country Partnership Framework FY16-20

                                                Chair Summary

                                                January 21, 2016


        Executive Directors discussed the joint IBRD/IFC/MIGA Country Partnership Framework
(CPF) for Uruguay for the period of FY2016 to FY2020 (R97063-UY). Directors acknowledged
the country’s major achievements in poverty reduction and shared prosperity. They noted the
successful and mutually beneficial partnership between the World Bank Group (WBG) and
Uruguay, which has resulted in the design of innovative approaches and instruments that can be
scaled up and replicated to benefit all WBG partner countries.

        Directors supported the overall engagement framework, which has been informed by the
rich analysis of the SCD. They welcomed the selective approach that focuses the WBG
engagement in three strategic pillars: (i) building resilience to macroeconomic and climate-change
related shocks; (ii) rebalancing the social compact by ensuring the protection of the most
vulnerable and improving education outcomes; and (iii) integrating Uruguay into global value
chains by improving infrastructure and increasing research and development opportunities for
better innovation. In particular, Directors noted the collaboration between the IBRD, IFC and
MIGA and the complementarities of the three institutions working jointly to respond to the
demands from the Government of Uruguay and the country’s development needs.

        Directors underscored the importance of enhanced South-South cooperation and sharing
Uruguay’s experiences and lessons with other countries and regions. Directors welcomed the
coordinated package of technical and financial assistance in infrastructure, and stressed that WBG
support should aim to help crowd in private sector investment as well. The importance of
integration into regional and global markets, climate change resilience, gender data and analysis,
continued coordination with development partners and further dialogue on SOE-related aspects
was also underlined. Directors stressed the need for a robust Results Framework, and urged that
in prioritizing the areas of engagement, the CPF continues to be country-driven and builds on
innovation and WBG’s comparative advantage, while maintaining flexibility to support the
country in responding to potential external shocks. More broadly, Directors encouraged that the
engagement modality and narrative for high-income countries, particularly in the context of
potential graduation and the WBG’s own resource deployment, be factored into future country
engagement deliberations.

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     This summary is not an approved record.