Jamaica and World Bank to Collaborate on Human Capital Development
Jamaica and the World Bank will be collaborating over the next three to four years to implement programmes and initiatives across ministries to develop and upskill the country’s human capital.
Jamaica-Country Partnership Framework
The initiatives, which aim to accelerate Jamaica’s pace of development, will be carried out under the Jamaica-Country Partnership Framework (CPF) 2024 to 2027.
Photo: JIS. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke (right), participates in a panel discussion during the recent World Bank country partnership framework event at the AC Marriott in Kingston. Other panellists are Minister of Agriculture, Fisheries and Mining, Hon. Floyd Green; and Minister of Education and Youth, Hon. Fayval Williams.
Human Capital Development
Speaking at a recent World Bank country partnership framework event at the AC Marriott in Kingston, Minister of Finance and the Public Service, Dr. Nigel Clarke, noted that human capital development is a major pillar of the partnership framework, involving education, health and social protection.
“Having resolved our macroeconomic issues… what is now essential is that we leverage that to improve people’s lives. We have to ensure that we improve the quality and quantity of the skills that are available in the Jamaican population to support higher levels of growth that can give the revenue that we require for further investment,” he said.
Technical Resources
Through the partnership, the Government will utilise the World Bank’s technical resources to produce policy improvements at an expedited pace to improve the quality of life and standard of living of Jamaicans.
“As far as their technical resources are concerned, the World Bank is unparalleled in virtually every sector. It’s an institution that works with 180 countries around the world and so they bring to bear in any sector a wealth of experience, a range of potential solutions and they can describe how those solutions have worked in other countries, and for a small country like Jamaica that is a tremendous value,” Dr Clarke noted.
Country Partnership Framework
The country partnership framework is a strategic development plan that marks the World Bank’s engagement in Jamaica with key targets and activities. The process begins with a systematic country diagnostic that looks at the challenges and opportunities for achieving the shared goal of reducing poverty and boosting shared prosperity.
Dr. Clarke outlined that through the country partnership framework, the assistance to the Government will be twofold – on the public sector side where the organisation will be helping with reforming policies, and on the private sector side to help mobilise private capital in structured transactions such as public-private partnerships (PPP) to deliver for the Jamaican people.
Conclusion
The partnership between Jamaica and the World Bank aims to accelerate the country’s pace of development by developing and upskilling its human capital. With the World Bank’s technical resources, the Government is expected to produce policy improvements at an expedited pace to improve the quality of life and standard of living of Jamaicans.
Frequently Asked Questions
Q: What is the purpose of the Jamaica-Country Partnership Framework?
A: The framework aims to accelerate Jamaica’s pace of development by developing and upskilling its human capital.
Q: What are the key pillars of the partnership framework?
A: The key pillars are education, health, and social protection.
Q: How will the World Bank assist the Government in implementing the partnership framework?
A: The World Bank will provide technical resources to help the Government produce policy improvements at an expedited pace to improve the quality of life and standard of living of Jamaicans.