The economy of now oil-rich Suriname is now being driven, significantly, by a World Bank strategy designed, the Bank says, to boost economic resilience and inclusive development in the country. It has been only a matter of months since the French oil company, TOTAL broke the news that it had accessed a ‘world class’ oil find offshore the Dutch-speaking Republic and the new World Bank strategy to “boost economic resilience and inclusive development” in the country sends a clear signal that the international community is ready to engage Suriname on terms that are consistent with its status as a country whose development agenda is now driven by its vast oil reserves.
Suriname President Chan Santoki
On October 1 the World Bank Group’s Board of Directors moved to endorse a new four-year strategic partnership between itself and Suriname, an initiative which a Bank disclosure says endorses “a new strategic partnership for Suriname for the next four years.” Among its essential elements is what the World Bank reportedly describes as s “a roadmap to support Suriname’s long-term development vision, focusing on fostering economic resilience, promoting inclusive growth, and strengthening institutional governance.” This strategy, reportedly, is “aligned with the Government of Suriname’s Multi-Annual Development Plan for 2022-2026 and focuses on creating more sustainable and equitable opportunities” that take account of the country’s recent offshore oil discoveries.
Suriname’s own reported short-term ambitions include improving access to quality education and training,
ensuring that Suriname’s workforce is prepared for future economic opportunities, especially in emerging sectors. It also supports enhancing the business environment to drive job creation and economic diversification, as the country anticipates new oil revenues. Importantly, given Suriname’s vulnerability to natural disasters and its unique status as one of the world’s few carbon-negative nations, strengthening resilience to climate and disaster risks is integrated into the strategy.
Suriname’s Finance Minister Stanley Raghoebarsing has been quoted as saying that the country’s “new strategy comes at a time when Suriname is poised for significant transformation. With the World Bank’s support, we will focus on creating jobs, improving education, and ensuring the responsible management of our natural resources, which will be key to our country’s future prosperity,” he reportedly added.
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Publish date : 2024-10-31 13:00:00
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Author : theamericannews
Publish date : 2024-11-22 12:44:56
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