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World Bank develops ten-year social protection strategy for Africa

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marketThe World Bank announced December 18, 2012 that it has developed a ten-year social protection strategy for Africa,

Spanning 2012-2022, the social protection strategy which comprises both social assistance and social insurance programmes, the World Bank believes is a powerful tool to reduce poverty and vulnerability in Africa.

The Bank explains that the vision is to help governments build country-owned national social protection systems.

“It will guide the Bank’s assistance to countries facing largely scattered social protection initiatives and their movement towards robust, coordinated, and efficient systems,” the Bank said.

“Social protection systems, when designed and implemented well, can lead to a rise in economic activity, as well as stimulate local markets and can even help facilitate unpopular but transformative economic reforms,” said Ritva Reinikka, Director of Human Development for Africa at the World Bank.

This strategy, which was informed by numerous consultations with governments and civil society in Africa, presents a unified vision for social protection and informs the choice of instruments, financing mechanisms and institutional arrangements for social protection, the World Bank indicated.

By Ekow Quandzie

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