Protecting the Poor Through Programmatic Adjustment Lending in Peru, Brazil and Colombia
Social reforms typically require long-term, incremental policy changes. Traditional World Bank (WB) funding for discrete investments or technical assistance often had little broad policy impact. Even sector adjustment loans tended to be too inflexi...
| Main Authors: | , , , |
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| Format: | Brief |
| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2003/12/12050118/protecting-poor-through-programmatic-adjustment-lending-peru-brazil-colombia http://hdl.handle.net/10986/10371 |
| Summary: | Social reforms typically require
long-term, incremental policy changes. Traditional World
Bank (WB) funding for discrete investments or technical
assistance often had little broad policy impact. Even sector
adjustment loans tended to be too inflexible and short-term
to support ongoing social reforms. Some countries needed new
kinds of financial and technical assistance to sustain
reforms during crisis and beyond. Recognizing the need for
steady, incremental reforms combined with institution
building, the WB introduced Programmatic Structural
Adjustment Loans/Credits (PSAL/PSAC) in 1998. In the social
arena, this instrument has provided fast-disbursing,
flexible, multi-year support to help countries preserve
their social safety nets during crises and strengthen them
in the long run through capacity building and institutional
reforms. In the Latin America and the Caribbean region,
loans to Peru, Brazil, and Colombia illustrate how the new
multi-sector social reform efforts have worked in practice. |
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