Pledging Statement by the World Bank
The World Bank Group is now mid-way through the implementation of its Country Assistance Strategy for 2005-2009, which is fully aligned to the NSDP. The CAS took a two-pronged approach:
On the first prong, our preliminary internal assessment indicates that the CAS is more or less on track and that we should continue to implement the current strategy without any major change in direction. However, we will be consulting with other stakeholders—the Government, donors, private sector and NGOs—in the Fall before we finalize our mid-term review and send to our Board by December. On the second prong, as you all know, over the past year there have been serious problems with the implementation of a number of Bank-supported projects in Cambodia. But I am pleased to say that these problems are being addressed and we are now getting back on track with the implementation of our CAS.
The World Bank’s overall IDA allocation for Cambodia is currently at about $60 million per year, all in the form of grants. In 2007, we expect to provide the following support:
In addition, the Bank has mobilized addition funds from regional and other sources. For example, earlier this month, the World Bank approved an $18 m grant for a GMS Power Trade project that will enable Cambodia to purchase electricity at a reasonable cost from its neighboring countries. And the World Bank will also work with the Ministry of Education to help it program and manage the $57.4 million that it has received through the Education for All Fast Track Initiative, which is an international partnership supported through a multi-donor trust fund managed by the World Bank.
Finally, the World Bank is committed to delivering our program in a way that is fully consistent with the commitments we have made in the Paris Declaration and the Cambodia Declaration. We would like to commend the Government of Cambodia—especially Senior Minister Keat Chhon and H.E. Chhieng Yanara for their continued leadership in this effort.