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  • Document of

    The World Bank

    FOR OFFICIAL USE ONLY

    Report No. 83144-ST

    INTERNATIONAL DEVELOPMENT ASSOCIATION

    INTERNATIONAL FINANCE CORPORATION

    MULTILATERAL INVESTMENT GUARANTEE AGENCY

    COUNTRY PARTNERSHIP STRATEGY

    FOR THE

    DEMOCRATIC REPUBLIC OF SÃO TOMÉ AND PRÍNCIPE

    FOR THE PERIOD FY14-FY18

    May 28, 2014 São Tomé and Príncipe Country Management Unit (AFCC1) Africa Region The International Finance Corporation (IFC) The Multilateral Investment Guarantee Agency (MIGA) This document is being made publicly available prior to Board consideration. This does not imply a presumed outcome. This document may be updated following Board consideration and the updated document will be made publicly available in accordance with the Bank’s policy on Access to Information.

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  • The date of the last Interim Strategy Note was May 19, 2011.

    CURRENCY EQUIVALENTS (US$1 = 17,676 dobras as of March 12, 2014)

    GOVERNMENT FISCAL YEAR

    January 1- December 31

    ABBREVIATIONS AND ACRONYMS

    AAA Analytical and Advisory Activities AfDB African Development Bank ANP/NPA National Petroleum Agency BPC Business Plan Competition CAS Country Assistance Strategy CASCR Country Assistance Strategy Completion Report CEM Country Economic Memorandum CEMAC Economic and Monetary Community of Central Africa CIIP Competitive Industries Innovation Program CPS Country Partnership Strategy CSO Civil Society Organization DeMPA Debt Management and Performance Assessment DP Development Partner DPO Development Policy Operation DSA Joint Bank-IMF Debt Sustainability Analysis DTIS Diagnostic Trade Integration Study ECCAS Economic Community of Central African States ECF IMF Extended Credit Facility EEZ Exclusive Economic Zone EITI Extractive Industries Transparency Initiative EMAE Empresa de Água e Electricidade (Water and Electricity Utility Company) ENCO Fuel Import Company ESMAP Energy Sector Management Assistance Program EU European Union FAO Food and Agriculture Organization FDI Foreign direct investment FPD Financial and Private Sector Development GDP Gross domestic product GEF Global Environment Facility GNI Gross national income GPE Global Partnership for Education HDI UNDP Human Development Index HIPC Heavily Indebted Poor Country HIV/AIDS Human Immunodeficiency Virus/Acquired Immunodeficiency Syndrome ICT Information and communication technology IDA International Development Association IDF Institutional Development Fund IFAD International Fund for Agricultural Development IFC International Finance Corporation ILO International Labor Organization IMF International Monetary Fund ISN Interim Strategy Note JDZ Joint Development Zone JSAN Joint Staff Assessment Note MDG Millennium Development Goals MDTF Multi-donor Trust Fund MIGA Multilateral Investment Guarantee Agency MSME Micro, Small, and Medium Enterprise

    i

  • NGO Non-Governmental Organization NOA National Oil Account ODA Official Development Assistance ORML Oil Revenue Management Law PAP Priority Action Plan PEFA Public Expenditure and Financial Accountability PER Public Expenditure Review PFM Public Financial Management PIU Project Implementation Unit PPP Purchasing Power Parity PREM Poverty Reduction and Economic Management PRI Political Risk Insurance PRSP Poverty Reduction Strategy Paper PPIAF Public-Private Infrastructure Advisory Facility PSD Private Sector Development PWP Public Works Program RBCSP Results-Based Country Strategy Paper, AfDB ROSC Report on Observance of Standards and Codes SDR Special Drawing Rights SMEs Small and Medium Enterprises SOE State-Owned Enterprise SPS Sanitary and Phytosanitary Measures SSA Sub-Saharan Africa STP São Toméan Dobra STP São Tomé and Príncipe TA Technical Assistance TBT Technical Barriers to Trade TF Trust Fund UNICEF United Nations Children’s Fund UNDP United Nations Development Program UNEP United Nations Environmental Program UNFPA United Nations Population Fund WBG World Bank Group WDI World Development Indicators WDR World Development Report WFP World Food Program WHO World Health Organization WTO World Trade Organization

    IDA IFC MIGA Vice President: Director: Task Team Leader:

    Makhtar Diop Gregor Binkert Yisgedullish Amde

    Jean Philippe Prosper Saran Kebet-Koulibaly Henri E. Rabarijohn and Boris Divjak

    Michel Wormser Ravi Vish Conor Healy

    Team Members: The Country Partnership Strategy for the Democratic Republic of São Tomé and Príncipe was prepared by a core team consisting of Elisa Gamberoni, Geraldo João Martins, Mazen Bouri, Sofia U. Bettencourt, Julio E. Revilla, Boris Divjak, and Zafar Ahmed; with contributions from Andrew Osei Asibey, Dirk Bronselaer, Domingas de Fatima Pegado, Eneida Fernandes, Furqan Ahmad Saleem, Isabel Neto, Julio E. Revilla, Manuel Salazar, Stefan Rajaonarivo, Monica Sawyer, Rafael Saute, and Silvia Martinez Romero. Initial overall guidance was provided by Laurence Clarke. Editorial and processing support was provided by Domingas de Fatima Pegado, Salma Chande and Anta Lo.

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    http://intranetncb.worldbank.org/servlet/main?pagePK=81000034&piPK=60001822&theSitePK=265640&upi=000081780

  • FY14 - FY18 COUNTRY PARTNERSHIP STRATEGY FOR THE DEMOCRATIC REPUBLIC OF SÃO TOMÉ AND PRÍNCIPE

    TABLE OF CONTENTS

    EXECUTIVE SUMMARY ................................................................................................ v I. INTRODUCTION ........................................................................................................ 1 II. COUNTRY CONTEXT AND DEVELOPMENT AGENDA ..................................... 5 A. Political Context............................................................................................................ 5 B. Social Context ............................................................................................................... 5 C. Economic Development ................................................................................................ 6 D. Development Challenges and Opportunities .............................................................. 13 III. WORLD BANK GROUP PARTNERSHIP STRATEGY ......................................... 16 A. Government Priorities and Medium-Term Strategy ................................................... 16 B. Proposed World Bank Group Partnership Strategy .................................................... 16

    Theme 1: Supporting Macroeconomic Stability and National Competitiveness ......... 21 Theme 2: Reducing Vulnerability and Strengthening Human Capacity ........................ 26

    IV. MANAGING RISKS .................................................................................................. 31 Annex 1: São Tomé and Príncipe: CPS (FY14-FY18): Results Framework.................... 33 Annex 2: São Tomé and Príncipe: Seminar on Small Island Economies ......................... 38 Annex 3: São Tomé and Príncipe - Poverty Profile .......................................................... 41 Annex 4: São Tomé and Príncipe - Statistical Issues ....................................................... 45 Annex 5: São Tomé and Príncipe - CAS Completion Report .......................................... 46 Annex 6: São Tomé and Príncipe: Financial Management and Procurement Systems .... 66 Annex 7: São Tomé and Príncipe: Trust Funds ................................................................ 69 Annex 8: Development Assistance Provided to São Tomé and Príncipe ........................ 70 CPS Standard Annexes ..................................................................................................... 71 Annex A2: Country At-A-Glance ..................................................................................... 71 Annex B2 .......................................................................................................................... 74 Annex B3 .......................................................................................................................... 75 Annex B3 (IFC) ................................................................................................................ 76 Annex B4 .......................................................................................................................... 77 Annex B6 .......................................................................................................................... 78 Annex B7 .......................................................................................................................... 80 Annex B8 ..............