Country Partnership Framework for the Republic of Croatia for the Period of FY19-FY24
Croatia is a small, open economy and the latest entrant to the European Union. After being severely affected by the global financial crisis, Croatia’s economy is recovering, with growth averaging around three percent over the last four years. The o...
| Main Authors: | , , |
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| Format: | Country Strategy |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/501721557239562800/Croatia-Country-Partnership-Framework-for-the-Period-of-FY19-FY24 http://hdl.handle.net/10986/31677 |
| Summary: | Croatia is a small, open economy and the
latest entrant to the European Union. After being severely
affected by the global financial crisis, Croatia’s economy
is recovering, with growth averaging around three percent
over the last four years. The over-arching objective of the
WBG Country Partnership Framework (CPF) is to play a
catalytic role in supporting institutional improvements
needed for a sustainable trajectory towards EU convergence
and eventual IBRD graduation. This CPF would support
interventions to address Croatia’s climate vulnerabilities
and protect its natural environment. This would be achieved
primarily through ongoing and prospective advisory services,
but also through potential WBG investments, including from
IFC, and potentially from MIGA guarantees. The CPF will
cover a five-year period (FY19-24) with one Progress and
Learning Review (PLR). This approach includes a relatively
narrow results framework that builds primarily on the
ongoing portfolio and the nature of RAS-financed
engagements. The PLR would provide an update on key areas of
institutional weakness, including to measure progress
against EU peers where benchmarks are available. While the
WBG may contribute only modestly to these outcomes, it
expects to play a catalytic role, and monitoring outcome
indicators which are comparable across the EU will be
particularly important to track progress in the areas on the
critical path to accelerate convergence. |
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