Congo, Republic of - Country partnership strategy for the period FY13-FY16 (English)

The Republic of Congo is classified as a low middle-income country, largely due to its large oil revenues and small population of 4.1 million. However, Congo still faces challenges in stimulating a broad-based, diversified economy that generates jobs,...  See More + The Republic of Congo is classified as a low middle-income country, largely due to its large oil revenues and small population of 4.1 million. However, Congo still faces challenges in stimulating a broad-based, diversified economy that generates jobs, especially for the youth. It also continues to face challenges in improving social outcomes, most especially in health, but also in education. The FY10-FY12 Country Partnership Strategy (CPS) between the Bank and the Republic of Congo was based on the Government's 2008-2012 Poverty Reduction Strategy Paper (PRSP). The latter put a greater emphasis on laying the foundation for broad-based growth and better service delivery. The Government has elaborated a new PRSP for 2012-2016. Its objectives are to consolidate the gains in governance reforms and intensify Congo's efforts toward economic diversification and better service delivery. It is against this backdrop that the following FY13-FY16 Bank-Congo partnership strategy has been formulated. Implementing this new strategy faces some risks. As a catalyst, the Bank will be contributing limited financing to largely government-funded programs. In the past, this arrangement has been a source of implementation delays due to slow releases of government funding. Efforts to find a lasting solution are underway. Delays to rapid implementation after effectiveness will be addressed with better project preparation. However, lengthy delays in government ratification remain a challenge. Restructurings will be carried out at early signs of stalled implementation.  See Less -