Costa Rica - Country Partnership Framework

                                           Chair Summary*

                                           April 30, 2024

Executive Directors discussed the joint IBRD/IFC/MIGA Country Partnership Framework (CPF)
for Costa Rica for the period from FY24 to FY28 and supported the overall WBG program and
engagement in the country.

Directors appreciated that the CPF outlines a selective set of catalytic interventions in strategic
areas through its three High-Level Objectives. They welcomed the CPF’s emphasis on tackling
drivers of inequality, reducing institutional gaps, and enhancing resilience, including through
digitalization tools. They emphasized the need to continue supporting migrants and incorporate
lessons that could be replicated in other countries.

Directors welcomed that the CPF will mainstream political economy and stakeholder analysis into
the WBG’s activities in a more systematic way. They encouraged WBG support for a balanced
fiscal and debt management path, including by focusing on deepening tax and spending reforms.
They welcomed the alignment with the global challenges where Costa Rica’s experience can be
leveraged in key areas such as forests, biodiversity, sustainable tourism, and reduced carbon
emissions.

Directors noted the CPF’s efforts to actively seek opportunities where IBRD, IFC, and MIGA
collaboration can help mobilize private capital and improve the business environment to contribute
to inclusive growth and support Costa Rica’s continued transition to a climate-smart economy.
They inquired about the division of labor between development partners in supporting key
government priorities.

Noting the factors behind current low disbursement and prospects, the Directors encouraged the
Bank to explore ways to address delays in Congress approval of lending operations. They
encouraged the integration of disparities in results frameworks and urged the Bank to continue
supporting institutional strengthening to the country.

Finally, given Costa Rica’s status as an above-GDI country, the Directors requested additional
details on closing institutional capacity gaps and looked forward to the implementation of this CPF
in a manner consistent with the IBRD Graduation policy.




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*This Summary is not an approved record.