Paraguay: the World Bank supports investments in human capital

By BKM | Berkemeyer

On January 22, 2019, the World Bank Group (WBG) Board of Executive Directors endorsed today the new Country Partnership Framework for Paraguay, establishing the lending and technical assistance program for 2018-2023. The strategy supports the country’s efforts to promote sustainable growth and institutional strengthening, while supporting investments in human capital, and advancing the fight against corruption.

“The World Bank Group strategy for Paraguay will help underpin the Government’s vision for education, health and social protection; to strengthen human capital and the government agenda to improve its efficiency. Paraguay seeks strategic allies to help us establish a development agenda for innovation that addresses the challenges of a globalized world; and that is why our partnership with the Bank is so important,” said Benigno López, Minister of the Treasury of Paraguay.

The new WBG strategy is aligned with the government program Paraguay de la Gente 2018-2023 (Paraguay for the People) whose main objectives are to strengthen the rule of law, invest in people to promote growth, and improve competitiveness.

“Paraguay faces the challenge of maintaining high growth rates to end poverty and promote shared prosperity, while keeping natural resources as the basis for national competitiveness and making sure that the poorest sectors of the population actively participate to this inclusive growth. Effective management of natural capital, economic diversification, and investment in youth to realize the promise of the country’s demographic dividend, are key priorities for the Country Partnership,” said Jesko Hentschel, World Bank Director for Paraguay, Argentina and Uruguay.