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       PAPUA NEW GUINEA: COUNTRY PARTNERSHIP STRATEGY FY13 – FY16

                                                     CHAIR’S SUMMING UP 

                                               Meeting of the Executive Directors
                                                               December 11, 2012


       Executive Directors discussed the joint IDA/IBRD/IFC/MIGA Country Partnership
Strategy (CPS) FY2013-2016 for the Independent State of Papua New Guinea (R2012-0233
[IDA/R2012-0278; IFC/R2012-0355; MIGA/R2012-0070]).

        Directors considered that the three pillars of the CPS were well-aligned with Papua New
Guinea’s Medium Term Development Strategy 2011-2015. They commended the national
authorities for their continuing commitment to macroeconomic stability and noted the challenges
they face in navigating through a period of global volatility.

       Directors noted persistent poverty levels and stagnant development indicators despite
growing national wealth. Directors underlined the importance of the Bank’s active engagement
with the national authorities on the challenge of poverty alleviation and in addressing crime and
violence. In this context, Directors strongly supported further actions on governance and capacity
building, particularly in budgeting, public financial management and procurement to address
constrains to more inclusive and equitable development outcomes.

        Directors supported the candid self-assessment in the Country Assistance Strategy
Completion Report and the application of the lessons learned, especially those emanating from
the findings of the 2011 WDR on fragility. They highlighted the strong gender focus of the CPS
and urged continued progress and monitoring of gender supported work and results. Directors
appreciated the integration of Bank and IFC engagement, as well as MIGA’s readiness to
become more active. Directors stressed the importance of providing robust support to the non-
minerals economy through investments and policy choices that help diversify the economy,
support SMEs and national businesses, create jobs and improve agricultural productivity.

       Directors emphasized the importance of donor coordination, and welcomed the close
collaboration between the World Bank Group and other bilateral and multilateral partners in
developing the CPS.




                                                            
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  This summary is not an approved record.