World Bank country director bids goodbye
The World Bank says budgetary funds are managed well in Bhutan.
Speaking at a press conference yesterday, the outgoing World Bank’s country director for Bhutan, Nicholas Krafft, said this is due to the strong demonstration of governance, public financial management, and procurement systems.
He oversaw the World Bank’s engagement with Bhutan including rural development, education, health, private sector development and poverty mapping.
“I do not know any other country where such high proportion of funding available from the World Bank is in the form of budgetary support and that is testimony to the level of good governance, public financial management, procurement system that you have in place.”
He however said Bhutan still faces some challenges.
“Poverty still existed and progress in form of rural access roads, electrification and education brought the country real dilemma and problems. The country had to manage and keep the cultural heritage while at the same time acknowledge the fact about the inevitability of urbanization.”
He said revenue generated from the hydropower will help the economy grow at a rapid rate.
Nicholas Krafft served as the World Bank’s Country Director for the last three years.
Source: bbs.com.bt