73569 THE REPUBLIC OF CONGO: COUNTRY PARTNERSHIP STRATEGY CHAIR’S SUMMING UP ∗ Meeting of the Executive Directors November 1, 2012 Executive Directors discussed the Country Partnership for the Republic of Congo for the period FY2013-2016 (IDA/R2012-0249[IFC/R2012-0316]). Directors welcomed the alignment of the World Bank CPS with Congo’s Development Plan, and its stated goal of transforming Congo into an emerging economy. Directors welcomed the design of the CPS which draws from the Bank’s new Africa Strategy and is underpinned by programs to develop opportunities for non-oil growth. In that context, they underscored the importance of addressing Congo’s economic dependence on oil and diversifying the economy, making growth more inclusive and strengthening governance. Directors took note of the candid reflection of Congo’s current socio-economic environment and stressed the need to reduce the high levels of poverty and income inequality. They also urged further support to help close the gender gap and ensure sufficient resources are allocated to help the Republic of Congo meet the Millennium Development Goals. They noted progress made in some areas, such as health, while underscoring the implementation delays in other areas. They also underscored the need to support employment generation, improve the business environment including through provision of key infrastructure, and encourage economic transformation in order to alleviate poverty and promote social inclusion. Directors suggested considering carefully the effectiveness of economic zones in supporting economic diversification, and the roles of World Bank Group in supporting this effort. More broadly, the Directors supported the Bank promotion of a results culture within government programs and policies supported by improved statistical capacity, and encouraged the Bank to incorporate lessons from the previous CPS in order to enhance future results. Finally, they urged the Bank to strengthen its collaboration and harmonization with other key development partners to ensure effective impact on the ground. They also emphasized the need for a stronger role for the IFC and MIGA to support the role of private sector in generating investments and entrepreneurship to help generate employment. ∗ This summary is not an approved record.