The World Bank has identified three priorities for its engagement in China for the period 2013-16: green growth, inclusive development and support for South-South cooperation initiatives.
These goals were endorsed Nov. 6 by the World Bank board as part of the lender’s new four-year country partnership strategy for China. The strategy is aligned with China’s five-year development plan that the World Bank also helped develop.
Aside from goals, the strategy outlines funding predictions. International Bank for Reconstruction and Development lending, for instance, is expected to remain at some $1.5 billion for 10 to 13 projects annually for the next four years. Investments by the International Finance Corp., meanwhile, are expected to be at $500 million to $1 billion for approximately 25 projects every year.
Projects funded by either World Bank arm are likely to be for any the following activities and themes under the strategy’s three main objectives:
Low-carbon urban transport and sustainable agriculture practices.
Sustainable natural resource management approaches.
Climate change management.
Increased access to health services and social protection.
Skills development programs for migrant workers, among other population groups.
Enhanced opportunities in rural areas and small towns, including better rural transport infrastructure.
Support for China’s South-South cooperation and the country’s role as a global stakeholder.
Geographically, the new strategy hones in on the country’s western and central regions, which World Bank Country Director Klaus Rohland described as “lagging.”
The World Bank has been engaged in China since 1981 and has financed 349 projects worth more than $54.41 billion. IFC, meanwhile, has invested some $6 billion in 240 projects in the country since 1985.
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