Essay Sample Describing the World Bank Development Activities and Progress in Brazil

Published: 2022-05-17 16:41:24
Essay Sample Describing the World Bank Development Activities and Progress in Brazil
Type of paper:  Research paper
Categories: Banking
Pages: 3
Wordcount: 562 words
5 min read
143 views

On July 13th, 2017, the World Bank endorsed a Country Partnership Framework meant for Brazil that would be used from 2018 to 2013. The framework was designed to assist the country in three focal areas such as fiscal consolidation and effectiveness of the government, equitable and sustainable development as well as productivity and private sector investment. While focusing on the three areas, the framework will attempt to involve private sector investment as well as accentuate the significant of a comprehensive regulatory framework accompanied by strong governance. It is anticipated that the framework will foster deliberations in national resource management and mitigation and adaptation issues in climate change. Lastly, the partnership foresees a greater role played by the World Bank in advocating and helping build consensus on the important development issues that affect Brazil (World Bank, 2016).

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From a statistical point of view, Brazil has experienced economic and social progress between the years of 2003 to 2014. Consequently, the progress was able to lift 29 million citizens from poverty. Unfortunately, in 2015, the rate of poverty reduction in the country stagnated. In 2015 to part of 2017, the country experienced a deep recession whose outcome was the deceleration of the nation's rate of growth. Also, in 2015, the country gross domestic product reduced by 3.8%. Even though the then president promised to institute fiscal policy measures meant to re-establish a confident investment environment, the promise has encountered challenges in its execution. Another area of interest is that the country has been successful in achieving universal coverage in education. However, it is struggling to achieve better quality in outcomes. Even though the country has also been successful in reducing deforestation, it still faces development growth challenges in the agricultural sector (World Bank, 2016).

Based on these challenges, the World Bank seeks to help the country solve some of the issues. Specifically, the World Bank is on a mission to help the country attain long-run sustainability and growth through the provision of opportunities for Brazilian citizens. As part of its strategy, in 2016, the bank initiated a Systematic Country Diagnostic who aims were to determine the obstacles in realizing sustainable growth in the country. The diagnostic reported that the main issue that the country faced included poor fiscal adjustment, lack of reforms in the financial sector and weak public governance. As a result, it got involved in projects through funding which included promotion of gender inequality, management of natural resources, the implementation of results-oriented management practices and encouraging social inclusion (World Bank, 2016).

World Bank's initiatives have yielded positive results in the country. For instance, the bank's initiatives have improved access to health care for those that did not have access before. The occurrence has led to the decrease of women who die during childbirth from 63.8% in the state of Parana to 37.5%. In the agricultural sector, programs sponsored by the World Bank have assisted a rural area called Santa Catarina in the formation of cooperatives, providing extension services and embracing productive and efficient agricultural methodologies. In environmental conversation, the bank's efforts have been instrumental in improving environmental legislation as well as establishing a number of initiatives which have enabled the country to reduce carbon emissions and fight climate change. It has also helped the country conserve wildlife (World Bank, 2016).

Reference

World Bank. (2016). The World Bank in Brazil. Retrieved from http://www.worldbank.org/en/country/brazil/overview#1

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