The World Bank in Vietnam on May 31 announced the official launch ofthe Country Partnership Strategy (CPS) 2012-2016, which shifts thefocus from financial flows to how the bank can assist the country tocapitalise on new ideas and manage its own resources better.

For the new CPS period, the indicative allocation from the World Bank'sconcessional arm, the International Development Association, to supportVietnam is about 4.2 billion USD.

According to WBCountry Director Victoria Kwakwa, the new CPS has taken into accountVietnam 's new phase of development as it moved to a middle-incomestatus.

The bank will operate in Vietnam with a more"strategic focus" and become more selective in choosing areas ofsupport, she said, including phasing out programmes in areas that haveachieved considerable results in the past such as rural electricity.

Deputy Minister of Planning and Investment Cao Viet Sinh applauded thelaunch, saying that Vietnam was committed to increasing thevalue-added in aid effectiveness in line with its Socio-EconomicDevelopment Strategy 2011-2020.

The new CPS was built onthree pillars – competitiveness, sustainability and opportunity – andwould transform how the bank engaged with the Government.

The strategy outlined the need to ensure that projects are completelyready when approved, address systemic ODA implementation issues. It alsocalls for clearer strategies and assurance that "funds are disbursed onresults-based rather than statement of expenditures".-VNA