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PRSP |
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Poverty reduction became the joint focus of the World Bank and the IMF in 1999, resulting in the Poverty Reduction Strategy Paper (PRSP)--a fresh approach that requires nations requesting concessionary loans to develop their own poverty-reduction plan. But the agenda in the low-income countries is fairly clear: the Bank needs to make a reality of local ownership of the Poverty Reduction Strategy Papers, and it needs to convert the finance it provides to the really low-income countries from loans to grants. To meet this deadline, we recommend that all countries have their strategies in place by 2006, and where Poverty Reduction Strategy Papers (PRSPs) already exist, they should be aligned with the MDGs. |
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