$247 million from the World Bank will support the government's goal of finding a sustainable growth path and building the resilience of its population
The Board of Executive Directors recently discussed a new World Bank Comoros Country Partnership Framework (CPF) in support of the country's efforts to build resilience, strengthen human capital and foster inclusive growth, as well as address the urgent need arising from the impacts of COVID-19 and Cyclone Kenneth.
The CPF, which covers the 2021-2024 period, was developed in consultation with the government and other stakeholders including the private sector, civil society, women and youth associations, and representatives from across the islands, to identify the country's development priority areas. It aims first to respond to the two overriding crises; the damage caused by Cyclone Kenneth and the economic impact of COVID-19. Additionally, it aims to help boost the population's resilience, including disaster recovery and disaster risk management, and build human capital.
This CPF also focuses on promoting economic recovery and inclusive growth by improving governance and business environment, fostering private sector growth and improving connectivity. It will also extend technical assistance on governance and revenue mobilization, while assisting the government in its intended reforms. To address the country's fragility and vulnerability, the CPF will seek to ensure a fair and equitable allocation of resources across and within the islands, as well as empowering women to leverage their existing prominent role within households and communities.
"Comoros has an opportunity to recover from the multiple shocks the country has faced in recent years and enable its people realize their potential. The World Bank is committed to working with the authorities and contribute its resources and expertise to our common objective of reducing poverty and promoting inclusive growth," said Rasit Pertev, World Bank Representative in Comoros.
While classified as a low middle-income country, Comoros still falls behind on many development dimensions, with around 40 percent of Comorians living below the national poverty line. Ranking 122 out of 157 countries, Comoros is also in the lowest quartile of the Human Capital Index, with a value of 0.411.
The CPF, which is aligned with the Comoros Emergence Plan (CPE), aims to help the country achieve some ambitious goals such as increasing the quality of the Comorian health system, reducing chronic malnutrition rate, improving Comoros Doing Business Index, increasing the access rate to energy and promoting Comoros connectivity.