TEGUCIGALPA, Honduras, Dec. 22, 2015 /PRNewswire/ -- The Board of Executive Directors of the World Bank Group (WBG) approved last week the Country Partnership Framework with Honduras for the 2016-2020 period that aims to build upon recent successes in economic growth and social development in the country.
The partnership is focused on seven objectives that are aligned with the foundations of President Juan Orlando Hernandez's national strategy plan, known as Plan de Todos para una Vida Mejor (Everyone's Plan for a Better Life). The Country Partnership Framework includes financial and technical cooperation from the International Finance Corporation (IFC), the International Development Association (IDA) and the Multilateral Investment Guarantee Agency (MIGA).
Key pillars include the following:
- Social programs – Through this strategy the government and World Bank will work to expand coverage of social programs such as the conditional cash transfer program Bono Vida Mejor, to promote social inclusion in Honduras.
- Infrastructure – The IFC will provide ongoing financing and advisory to support infrastructure and financial sector development. Meanwhile, MIGA will continue to provide guarantees to landmark public-private partnership initiatives such as the Corredor Turistico toll road that was inaugurated earlier this year to improve connectivity and trade in Honduras.
- Access to financing – The WBG strategy will seek to increase access to financing for both companies and individuals.
Additionally, the WBG partnership strategy with Honduras will contribute to strengthening the regulatory framework and institutional capacity, to increase rural production, to address climate change and to build local governments' capacity to prevent crime.
"The approval of the Country Partnership Framework between Honduras and the World Bank Group, that is aligned with President Juan Orlando Hernandez's national strategy, will allow us to continue working together towards common objectives such as boosting economic growth and competitiveness, promoting social inclusion and human development, and boosting transparency and modernization of the State, all of which help improve the lives of Honduran people," said Wilfredo Cerrato, Finance Minister of Honduras.
Sandra Castillo, +504-2290-5084
SOURCE Honduras Presidency