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Highlights – Board Meeting of 5 September 2018

08-Nov-2018

Following the presentations by the Chair of CODE and Management, some Executive Directors congratulated the team on the efforts made to come up with this new Strategy and encouraged the team to put in place a strong action plan to avoid a weak implementation rate as it was with the 2013-2017 Country Strategy Paper. The Board also invited the Management to focus on actions that will reduce the growing inequality in the country both in terms of income distribution and access to services.The Board approved the two pillars, namely: (i) Supporting Agricultural Transformation for Economic Diversification and, (ii) Building Capacity in Public Policy Design and Implementation and invited Management to strengthen dialogue with the authorities of Equatorial Guinea. In addition, the majority of Board members invited Management to consider separately the proposal to open a liaison office in Equatorial Guinea; and not to consider a budget support (Programme-based Support Operations ((PBO)) in view of the country's current economic situation as long as the latter has not put in place certain prerequisites and adopted certain reforms in collaboration with the International Monetary Fund. At the end of the deliberations, the Board approved the 2018-2022 Country Strategy Paper for Equatorial Guinea

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