The world bank’s contribution to poverty reduction in Peru

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Maldonado, Carla
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University of Malta; DiploFoundation
Peru‘s economy has improved significantly, however poverty is an imperative issue that is not progressing as expected. The aim of this study is to analyze the World Bank‘s contribution to poverty reduction in Peru and determine what limited the results and outcomes of its projects. The study compares and contrasts the Country Assistance Strategy (CAS) that was executed from 2003-2006 and the Country Partnership Strategy (CPS) that is currently being implemented from 2007-2011. The research analyzes the Word Bank‘s actual role in Peru and determines if the latter strategy is more likely to improve the World Bank‘s effectiveness in poverty reduction than the previous strategy. The study acknowledges the positive impact of development cooperation, the main actors in poverty reduction and the importance of the Millennium Development Goals (MDGs) in measuring progress. The study also identifies the World Bank country assistance strategies‘ strengths, weaknesses, effectiveness and outcomes in their fight against poverty reduction. The research concludes that the new Country Partnership Strategy (CPS) includes more poverty reduction programs, more funds invested and a flexible approach. The CPS, an improved strategy taken from the basis of the CAS; is more structured, goal oriented and already has shown further progress in eliminating poverty in Peru.