THE
World
Bank Group (WBG) board of executive directors has endorsed a new Interim
Strategy Note (ISN) for Zimbabwe for the period 2013-2015, the Bank has
announced.
In a statement the Bank said the endorsed ISN
supports three priority areas namely fostering private sector-led growth,
strengthening core systems for sector management and reducing vulnerabilities
and strengthening human development.
While welcoming the flexible approach reflected in
the ISN the WBG board of executive directors also underscored the importance of
the upcoming elections, a commitment of good governance, transparency in public
financial management and a robust investment climate.
“Given the uncertainties facing the country, the ISN
has been prepared to swiftly respond to changes in the country context. The
anticipated elections and the new Constitution will be important developments
during the ISN period.
“The ISN has been informed by three scenarios:
status quo, enhanced re-engagement, and deterioration-specific features of
these scenarios, current assessment of their likelihood, and possible WBG
response have been set out in the document,” said the Bank.
Under the status quo scenario, the WBG will continue
to support reforms and recovery through dialogue and analytical work-building
upon the success achieved on this front during the ISN2 period through the
Analytical Multi Donor Trust Fund (A-MDTF) and other forms of support.
If the situation improves and enhanced re-engagement
can be confirmed, then the WBG will work with other partners in helping the
government to develop social and economic reform programs needed to move
towards arrears clearance and full re-engagement.
And the third scenario, if the political economy
deteriorates to the point where most analytical work no-longer has a receptive
audience, the WBG would scale back its work and staff
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