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World Bank board endorses new strategy for Jamaica

Published:Wednesday | April 30, 2014 | 8:27 AM

The board of the World Bank Group has endorsed a new Country Partnership Strategy for Jamaica which proposes a lending programme of US$510 million over the next four years.



The World Bank says the strategy focuses on creating the conditions for growth and prosperity for all Jamaicans.



The areas to be given attention are the Modernisation of the public sector; creation of an enabling environment for private sector growth; and building social and climate resilience.



World Bank Country Director for the Caribbean, Sophie Sirtaine, says for the past two decades, Jamaica has been trapped in a cycle of low growth, high debt, and limited fiscal space.



However, she says the reforms adopted by the government have started restoring confidence in the Jamaican economy.



She says the new strategy is about changing the growth trajectory of Jamaica and boosting competitiveness and private sector development.



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