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                                             Panama

                             Country Partnership Framework FY15-21

                                          Chair Summary*

                                           April 7, 2015

Executive Directors welcomed the discussion of the joint IBRD/IFC/MIGA Country Partnership
Framework (CPF) (R2015-0055[IFC/R2015-0058, MIGA/R2015-0016]) for Panama for the
period of FY2015 to FY2021, the first CPF to be presented to the Board. Directors noted that the
CPF has been informed by a comprehensive Systematic Country Diagnostic (SCD), which
reflected a broad array of analytic work and consultations with stakeholders to identify the key
challenges facing Panama.

Directors commended Panama’s impressive economic growth rates in recent years, which have
largely translated into significant poverty reduction and shared prosperity. They acknowledged
the alignment of the CPF with Panama’s own 2014-2019 Strategic Development Plan, and with
the priorities identified in the SCD. They also noted that in selecting the areas of proposed
engagement, the CPF takes into account the WBG comparative advantage in the context of
Panama.

Directors acknowledged the selectivity approach used in the CPF and the focus on three strategic
engagement areas: supporting continued high growth; ensuring inclusion and opportunities for
marginalized and indigenous groups; and bolstering resilience and sustainability. They encouraged
attention to gender and welcomed the use of a mix of instruments that harness the
complementarities and synergies among World Bank Group institutions. In this context, they
encouraged strong collaboration across the Bank Group to support even greater private sector
development, particularly with regard to job creation, financial inclusion, sustainable urban
development, infrastructure, connectivity, and regional integration including through public-
private partnerships when possible.

To support the increasingly complex private sector, Directors agreed with the emphasis on
strengthening the effectiveness, efficiency and transparency of public institutions. Directors
welcomed the intentions to enhance Panama’s budget management transparency, and continuing
to address governance issues, particularly transparency of the financial sector. Directors also
encouraged broadened strategic dialogue with the country and coordination with development
partners with regard to other priorities identified by the SCD. Finally, they emphasized the
importance of developing and monitoring a robust Results Framework.




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*This summary is not an approved record