67894 REPUBLIC OF MOZAMBIQUE: COUNTRY PARTNERSHIP STRATEGY CHAIR’S SUMMING UP Meeting of the Executive Directors April 3, 2012 Executive Directors discussed the joint IDA/IFC/MIGA Country Partnership Strategy (CPS) for Mozambique for FY12-15 (IDA/R2012-0067[IFC/R2012-0057, MIGA/R2012-0009]). Directors commended Mozambique’s authorities for sustained economic growth, macroeconomic stability and progress towards the achievement of the MDGs. They acknowledged the commitment of the authorities to ensure inclusive growth but expressed concern about the remaining high level of poverty in spite of an impressive growth record. Directors noted the alignment of the CPS with the Africa Regional Strategy, with emphasis on partnerships, analytical work, and greater multi-sectoral approaches to address complex development challenges. Directors also welcomed the Bank’s new support to climate change and social protection, both key areas addressing Mozambique’s increased climate variability and high level of vulnerability to exogenous shocks. Directors encouraged further progress in accelerating investment climate reforms and improving the business environment, particularly for SMEs. They emphasized the need to improve governance, strengthen public financial management, and enhance accountability in the public sector. Directors further urged the Bank to leverage resources, particularly for infrastructure development. They emphasized the need for greater focus on regional integration. Executive Directors also underscored the importance of mainstreaming gender equity and nutrition in the Bank’s program to address critical challenges to Mozambique’s development. Directors welcomed the close coordination between the Bank, IFC, and MIGA, and encouraged the Bank to continue to play a leading role in improving donor harmonization. They also highlighted the need for continued collaboration with civil society.  This Summary is not an approved record.