The World Bank approved May 19 an interim strategy note for Sao Tome and Principe, which will govern the agency’s programs in the country through fiscal 2012.
The approval of the interim strategy note signifies the extension of the 2006-2009 country assistance strategy for Sao Tome and Principe. It aims to “to lay out the analytical underpinnings for the development of a fully fledged Country Assistance Strategy (CAS) that is aligned with the [Sao Tome and Principe’s] forthcoming Poverty Reduction Strategy Paper (PRSP) currently under preparation by STP authorities and expected to be launched in FY13,” the bank said in a news release.
The bank also announced it will provide a grant of $4.2 million to support the preparation of the PRSP and the Sao Tome and Principe government’s efforts to improve its public management and governance.
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