The Government of Lesotho in collaboration with the World Bank Group launched Country Partnership Framework (CPF) fiscal year 2024-2028 at the event held in Maseru on Monday.
The CPF is a joint partnership between the Government of Lesotho and the World Bank Group that provides WBG’s strategic support to Lesotho for the next five years.
Speaking at the event, the Minister of Finance and Development Planning, Dr Retšelisitsoe Matlanyane said the previous CPF ended on June 30, 2020, but the new CPF could not be developed simultaneously as the period coincided with the incidence of the COVID-19 pandemic.
She said the development of this CPF was a consultative and engaging process between the World Bank Group, the Government of Lesotho, the Private Sector, the Diplomatic community and Development Partners, youth and marginalized groups.
She, therefore, expressed gratitude to all stakeholders for their valuable inputs, feedback and insights that have brought forth this valuable document.
She also appreciated the Boards of the Executive Directors of the International Development Association (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) for endorsing this CPF, saying it is evidence of the continued support and cooperation with the Government of Lesotho.
“I am delighted to see that the use of Development Policy Operation (DPO) to accelerate reforms will also be considered during this CPF cycle that we are launching today,” she said.
She said the World Bank is one of the largest multilateral partners with 11 active projects with a total commitment valued at US$425 million, adding that as the government, they are cognizant that these projects continue to register slow implementation and are already working jointly with the World Bank National office to address issues that hamper the due implementation of these projects.
The World Bank Country Director to Lesotho Ms. Marie-Francoise said the overarching objective of CPF is to promote a private sector-driven, export-oriented economy for job creation and support an efficient and effective public sector.
She said the CPF is built on the Lesotho development priorities articulated in the second National Strategic Development (NSDP II) for 2023-28.
She said the World Bank will build on what worked well in the previous CPF, saying commercial fruits farms supported by the previous private-sector project provide a strong basis for scaling up commercial horticulture.
She said they will implement CPF by applying two cross-cutting themes, thus integrating digital technology and gender in all CPF objectives.
She said the World Bank will also strengthen partnerships with government and other stakeholders, saying partnerships will enable stronger program ownership and accountability.
Also Speaking, the World Bank Country Representative, Mr Yoichiro Ishihara said they are going to work on being accountable and implementing all strategies, saying this is an opportunity for the government of Lesotho and the World Bank to elaborate more.
The CPF serves as a framework for collaboration between the government of Lesotho and the World Bank, guiding their joint efforts to promote sustainable development, reduce poverty, and improve the well-being of the people of Lesotho.
