Armenië: Armenia - Country partnership strategy : 2009-2012
Datum: 27.07.2009
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Strategy |
| Abstract: III.The Bank Group Partnership Strategy B.Bank Group Country Partnership Program Strategic Objective 1: Addressing Vulnerabilities Results area 1: A post-crisis Armenia that regains macro-stability and is poised for high growth Outcome 1: Macro stability maintained through appropriate external and domestic fiscal adjustment Outcome 2: Tax regime and administration reformed: Outcome 3: Financial intermediation rises, with growth in SME credit lines to rise as a share of total credit. Macro-stability and positioning for high growth. The AAA work will be directed at providing rapid analysis on the evolving macro-economic stresses, particularly on fiscal adjustment and choices in public expenditures so as to safeguard the anti-poverty thrust of policies. Fiscal policy advice would focus on both expenditure efficiency and equity gains and on strengthening the revenue base through improvements in tax policy and administration. Bank advice would build on Armenia's solid track record of improving the efficiency and transparency of public finances. The DPOs would be central to this objective. The recently completed series of PRSCs has established a strong framework and the new DPO series will build upon it. A full economic report in FY10-11 will provide comprehensive advice on post-crisis re-attainment of rapid growth, with a shift towards tradables. Advice on trade expansion and policy reform in view of the interest in a deep free trade agreement with the EU will be provided. Key infrastructure support through current and new road, energy, and water projects (noted below) will also generate employment, support output during the downturn and help position Armenia for growth after the current period. Tax reforms. The DPOs will be central to this objective. The recently completed series of PRSCs has established a strong framework and the new DPO series will continue to have a central focus on this objective. The economic report will provide the analytical framework. 16. The financial sector. A banking sector diagnostic or an update of the FSAP will be on the agenda for the latter period of the CPS. The Bank will continue with policy advice to the Central Bank, in close coordination with the IMF, to advise on financial sector policy and institutional changes needed to respond to the crisis. Bank AAA will focus on banking sector risks and vulnerabilities. The SME Une of credit (FY09) is strengthening the investment base for growth during the current difficult credit period (and may attract additional financing from other sources to extend gains in the medium term). IFC s current focus on the financial sector will continue, as this is the best way for IFC to support the availability of finance to a broad number of companies. To support its client banks dining the current financial turmoil, IFC will provide short-term liquidity (such as trade finance) and possible support on recapitalization with equity or quasi-equity. During this period, SME finance and microfinance will remain key priorities to help ensure that small businesses still have access to capital. IFC will also provide advisory services to support the management of portfolios and NPLs. This will include work directly with client banks, as well as with Government to improve the necessary regulatory environment. IFC will also seek to support clients in the real sector with financing where prudent and is considering an advisory services program for SMEs on crisis management, including topics such as cost reduction and cash flow management, risk management, and options for companies unable to meet current debt obligations. Results area 2: Adverse poverty impact limited amidst assured health and social protection Outcome 1 : Income poverty impacts are limited through employment generation from job-creating programs and through improved poverty targeting. Outcome 2: Increased utilization of basic health services by the poor, with a decline in out-of-pocket payments. Outcome 3: Urban households employ safe gas-based heating; solid waste management follows international good practice. Poverty, social protection and job creation. The strong gains in poverty reduction are jeopardized by the current economic crisis, and thus generating immediate employment opportunities is critical. The Bank will continue to wrork jointly with the authorities on increasing sophistication in poverty monitoring and on drawing the policy implications of the changing profile of poverty. Clearly, policies to reverse rapidly the expected worsening in poverty over FY09-10 shall have high priority. The set of three emergency interventions in lifeline roads, community development and the rural economy will generate employment as well as create new sustainable capacity in infrastructure. The IDA fast track operations in FY09-- The Social Investment Fund (ASIF-3) and the Rural Development Fund (RESCAD) as well as the Lifeline Roads project— were targeted for their short-term job creation potential. Further additional financing for ASIF-3 is planned for FY10. The subsequent roads projects over FY11-12 will create further job opportunities through direct employment as well as creating opportunities for improved market access and economic growth. In FY10 additional financing for social assistance to support institutional changes is being planned. The roads projects over FY11-12 will further assist link poor villages to markets. The DPO will provide for changes in social protection design and support for the development of the multi-pillar pensions system. The ongoing Soda! Projection Project lias already put into place a well functioning safety net, but this will be augmented by further technical strengthening through additional financmg in FY10. Bank work under the DPOs will support the policy and institutional reforms to further enhance the poverty targeting of selected government programs. Health. The financing of health reforms and support for the design of the multi-pillar pension system w;ill be a part of the AAA agenda. The ongoing Health APL I and H projects aim at scaling up family based medicine and the further optunizuig hospital administration in the regions, to extend health care quality nation-wide. Design of reforms to the basic benefits package, adequate costing and reimbursement for services will help reduce informal payments and will likely be supported through the DPO series. Heating. The ongoing Urban Hearing Project commues to provide heating services in key public services, including schools and hospitals. Results area 3: Rural and environmental risks decrease Outcome 1 : Irrigated acreage rises as institutions for water management develop. Outcome 2: Rural output and employment is supported. Outcome 3: Environmentally-safe mining code under unplementation. Outcome 4: Preparedness for handling natural disasters is developed. Irrigation. A number of projects supporting irrigation sector and rural development (Irrigation, Dam Safety, and Dam Safety II) have recently closed or are closing. These projects have been instrumental in restoring irrigation systems and establishmg principles of participatory irrigation management through formation of water user associations. A new irrigation loan in FYÎ0 would enable the Bank to continue rehabilitation of irrigation systems and facilitate the next institutional step in creating federations of Water User Associations. The rural economy. The crisis-impact work will pay close attention to the impact on the rural economy and to enhancing export and growth prospects. The Bank has long been a supporter of local and rural development. The IDA fast track projects discussed above support rural development. Those projects have strong beneficial impacts on the rural economy not only through their short-term employment-generation but also through the development of community infrastructure and by connecting rural areas to agricultural markets. The Social Investment Fund (ASIF-3) and the Rural Development Fund ÍRESCAD) support priority community infrastructure needs while creating immediate employment opportunities. A follow-up Apiculture project in FY11-12 will enable the Bank to continue to deepen rural competitiveness. Continued government investment in upgrading extension services and implementing food safety standards are important to ensure growth and the opening of new export markets. Environmental risks. The DPO is supporting the development of a mining code that pays particular attention to environmental aspects and duruig the CPS period the code will be brought under implementation. Fiscal and regulatory incentives to ensuring environmental protection will be central to the code. The reformed environment will ease the re-start of the mining sector after the current downturn and the attraction of foreign direct investment. Natural disasters. The management of natural disasters, particular the use of insurance products and public preparedness, as well as measures to adapt to climate change will feature in the latter part of the CPS period. Support in the form of policy advice and the transplantation of international best practice will be important in tins regard. The Bank will consider assisting the country to conduct pilot vulnerability assessments in the energy and agriculture sectors and to develop adaptation plans for water sector investments. This work can help build in better climate resilience to Bank-supported investments as well as assist Armenia in adaptation planning. There is also the possibility to use facilities not currently included in the lending| program for disaster insurance and the environment, such as the Carbon Fund. Strategic Objective 2: Strengthening Competitiveness for Post-Crisis Growth Results area 4: Governance is strengthened; as a result, public sector efficiency rise Outcome 1 : Conflict of interest among public officials is substantially diminished; and fair competition in commerce is established. At least 60 percent of firms agree that implementation of laws is consistent and predictable. Outcome 2: Business surveys show near-elimination of complaints of revenue agency behavior. Outcome 3: Program budgeting leads to efficient expenditure allocations; and civil service performance appraisal is uitroduced. Judicial decisions are rule-bound. Strengthened accountability, transparency and efficiency in the use of public funds. Competition and conflict of interest. The advisory work will cover conflict of interest policy within the umbrella of a coherent strategy on governance and anti-corruption reforms. Measures are being designed to add to the powers and the reach of the Competition Commission and to enhance its technical skills. Policy steps taken in these areas will be a part of the DPO-supported reform agenda. Revenue agency reforms. Technical advice to the revenue raising agency in both the areas of customs and tax will be provided under the DPO. The DPO-supported program envisages the implementation of the medium-term reform strategy in the agency that provides for rules-based behavior, the fall extension of risk-based revenue management, reduced interaction between officials and the public, and the adoption of modem business practices to these ends. Customs reforms will provide fall beliind-the-border support to the operation of a free trade agreement with the EU. Public service reforms. The PEFA prepared by the authorities and the CFAA will be followed up with further analysis and technical assistance. Loans in public sector and financial management (FY11-12) will finance e-infrastructure, equipment in agencies and technical assistance. Improved governance lias been supported through the recently completed series of PRSCs, and the ongoing Judicial Reform II and Public Sector Management projects. New follow-on loans in public sector management and financial management (FY11-12) will finance further improvement in civil service reform, building modern accounting, internal controls and auditing systems, and further strengthening electronic feedback on service delivery. Results area 5: Foundations for knowledge economy and competitiveness strengthened Outcome 1: In support of a knowledge-based economy with the necessary infrastructure, strategy being implemented for increased internet penetration, amidst the laying of a national IC'T broadband backbone network- Outcome 2: PPP framework in operation. Commercially valuable spectrum available for private sector use; and aviation fully liberalized. Outcome 3: In transport management, road network is improved and analysis and regulatory capacities strengthened. Outcome 4: In energy, investment financing for new generation capacity; and transmission losses reduction. Outcome 5: In water, share of consumers with continuous water supply rises, cost recovery improves, budget support for current operations phased out by 2012. Outcome 6: A growing private sector faces more open competition and access to finance. Outcome 7: In education, increase of net preschool (5 years old) enrollment rate. Increase in the share of public funding in the total revenues of public higher education institutions. Knowledge and competitiveness. A major effort will lie in developing a comprehensive strategy towards a knowledge-based economy and the design of the supporting infrastructure. An ICT/e-govemance project (FY10) will provide technical support and financing for key infrastructure. It also will provide technical support and financing for building critical "backbone" telecommunications infrastructure, facilitate technology transfer and also augment the education projects (noted below) by establishing an innovation fund for higher education centers of excellence. The DPO will supplement this through regulatory and competition reforms as a key theme, and reforms m governance and financing of universities to create the conditions and provide the incentives for their uicreased involvement in research, development and innovation. PPP framework. Regulatory reforms on private sector participation in infrastructure and utility services, and policy reforms in telecommunications, civil aviation liberalization will be analyzed m the context of the lending being prepared. The DPO will play the central role in these areas. The Bank will provide advice on the management of PPPs. Outcomes will provide for the auctioning of commercially valuable radio spectrum and the full liberalization of civil aviation once the existing monopolistic commercial agreement conies to an end m 2013. TFC may also support the development of particular PPPs either through advisory or investment work. Transport Studies will cover management of transport assets and associated regulatory reforms. The roads sector operation (FY10) will improve quality. IFC will seek opportunities to catalyze private sector participation m transport and logistics projects, facilitating improved access to markets. Energy. AAA will support The authorities in the development of an energy strategy in light of the need to decommission the existing nuclear power plant. The current renewable energy project and Geothermal GEF project are supporting the development of alternative energy sources. New Energy Supply Reliability and Energy Efficiency Project (FY11-12) will enhance electricity supply reliability, reduce transmission losses and energy intensity of the economy, and contribute to the export of electricity. A new hydro/renewable energy project (FY11-12) could be pursued and IFC is seeking opportunities to finance private small renewable energy projects. IFC is completing an energy efficiency survey to identify opportunities and will build on this work through advisory and financing to banks to encourage the provision of energy efficiency financing. Water. The Bank has been very active in building a new public-private partnership in the delivery of water supply to businesses and the public through two ongoing projects — Yerevan Water and Municipal Water projects. Additional Finance for the Municipal Water Project was provided m FY09 to help extend the management contract and set further quality benchmarks. Private sector. IFC has launched an advisory initiative to support improvements ui the business enabling environment, which will decrease the costs of doing business in Armenia and increase the competitiveness of its private sector. To support growth of the private sector, IFC will also provide and mobilize financing. In the banking sector, after the crisis-related needs for short-term liquidity and recapitalization have passed, IFC will resume longer term lending to facilitate access to finance to a broad number of private companies. IFC will target reaching 4S00 SMEs through its partner banks by FY12, with a total SME loan volume of at least $200miUion. IFC will also remain engaged in the development of housing finance, a government priority, through advisory and investment services. IFC will also directly finance private companies of sufficient size and transparency. In addition to the possible PPPs, transport and logistics, and energy investments mentioned above. IFC will seek to make direct investments in sectors where Armenia has a comparative advantage, such as mining, or where the investment project has a positive impact on businesses ui its value-chain, such as retail, warehousing or food production. Education. Higher education reforms will focus on innovation, and on governance and financing aspects. The education APL-IIproject (FY09) will enhance school learning by supporting the completion of the 12-year general education system while improving the school readiness of children entering primary education. The project will also help improve quality assurance in higher education institutions so as to support their integration into the European Higher Education Area. It will build on the ongoing education APL I project and extend gains to both the pre-school and tertiary level which have largely depended on private fees which lock out the poor. The project will help improve the school readiness of children entering the primary system. It will also help develop the quality assurance framework. IFC will support the development of student loans through its client banks |
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Financing Institution: |
World Bank |
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Contact: |
IDA/IBRD Vice President: Shigeo Katsu Countiy Director: Asad Alam Team Leader: Saumya Mitra IFC Vice President: Jyrki Koskelo Countiy Director: Nena Stoiljkovic Team Leader: Lisa Kaestner |
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More information: |
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Bron: World Bank
Nummer: 247727
Trefwoorden:
Consultancy - Financiële dienstverlening - Onderwijs - Projecten - Armenië - Wereldbank
Meer informatie over dit onderwerp is op te vragen onder vermelding van nummer 247727 bij Mila Bahadoer, e-mail: tio@info.agentschapnl.nl, telefoon: (088) 602 85 87, fax: (088) 602 90 26.
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