Published: 29th Sep, 2018
World Bank Group’s Board of Executive Directors approved Country Partnership Framework (CPF) for India to support its transition to higher middle-income country.
Context
World Bank Group’s Board of Executive Directors approved Country Partnership Framework (CPF) for India to support its transition to higher middle-income country.
About
- CPF (2018-2022) for India is a plan document by WBG which aims to support the government’s goal of faster, inclusive and sustainable growth accompanied by rapid economic transformation and job creation.
- CPF replaces the Country Assistance Strategy Model of WB.
- CPF in association with Systematic Country Diagnostic (SCD) helps WBG to extend support to the member country.
- The CPF is not an analytic document, but it is underpinned by the systematic and evidence-based analysis of the SCD.
- SCD aims to identify challenges and bottlenecks of a country faces in order to achieve the above twin goals. It is based on thorough analysis and consultation of wide range of stakeholder.
Why CPF for India?
WBG held that over the years, India has made considerable progress economically and socially and ready to make its transition to next level. Some of the recognised achievements of India include:
- A fast growing economy
- Increased global stature in the recent past on number of issues
- Lifting the highest number of poor out of poverty in the past decade.
Focus:
- WBG’s CPF for India will focus particularly in three areas:
1. Resource efficient growth path, particularly in the use of land and water.
2. Enhancing competitiveness and job creation
3. Investing in human capital: Health, education and skill.
- Besides above, CPF aims at intensively engaging with the states of India. The participation and engagement with states, according to the WB are crucial for India’s transition to higher middle income country.
Significance
- The CPF is expected to bring between 25 and 30 billion US Dollars in financial support from the International Bank for Reconstruction and Development, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
- CPF will enhance India’s collaboration with WBG on issues such as poverty, climate change, sustainable development and inclusive growth.
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