Timor-Leste Can Create a Sustainable, Prosperous Economy for All, says New World Bank Report | WPN World People News

A new World Bank report explores how Timor-Leste can develop a sustainable economy that benefits all people in the country by increasing investment in human capital and service delivery, boosting economic growth, promoting private sector job creation, and sustainably managing the environment and public finances.

The report, “Pathways for a New Economy and Sustainable Livelihoods” is the first Systematic Country Diagnostic (SCD) for Timor-Leste, an assessment of the most pressing development challenges facing the country, identifying opportunities for reducing poverty and boosting shared prosperity.

“Timor-Leste has made great strides towards securing lasting peace and rebuilding its physical infrastructure since becoming a new sovereign state in May 2002. Yet, the government can do more to meet its development goals, particularly, reducing the high levels of poverty and closing the human capital gap,” said Macmillan Anyanwu, Country Representative of the World Bank in Timor-Leste. “This report presents recommendations that will help to make the best use of the opportunities that exist for Timor-Leste to achieve its development objectives as efficiently as possible. We hope this study will help the government and other partners in their efforts to build the future of Timor-Leste.”

The SCD prioritizes reforms in three areas:

● Better supporting human capital and service delivery with adequate, timely and appropriate resources; with a particular focus on addressing malnutrition with an integrated program which includes water and sanitation; and ending gender-based violence.

● Identifying an economic strategy for sustained economic growth and private sector job creation; strengthening the legal foundations of the market economy; increasing productivity in agriculture, fisheries and forestry; and developing appropriate and resilient infrastructure.

● Carefully managing public finances and natural resources to ensure they are sustainable; with a particular focus on improving national disaster risk management.

The Systematic Country Diagnostic will be used as a key input towards the preparation of the next Country Partnership Framework (CPF) for Timor-Leste. The Framework will outline the World Bank Group program to support the Government of Timor-Leste to achieve its strategic objectives over the next five years.

Source: World Bank