 Definition
History
Core Principles
Poverty Reduction Strategy of Mongolia
Definition Poverty Reduction Strategy Papers (PRSP) describe a country's macroeconomic, structural and social policies and programs to promote growth and reduce poverty, as well as associated external financing needs. PRSPs are prepared by governments through a participatory process involving civil society and development partners, including the World Bank and the International Monetary Fund (IMF).
History
In September 1999, the World Bank Group and the IMF determined that nationally-owned participatory poverty reduction strategies should provide the basis of all their concessional lending and for debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. This approach, building on the principles of the Comprehensive Development Framework, has led to the development of Poverty Reduction Strategy Papers (PRSPs) by country authorities for submission to the Bank and Fund Boards.
Core Principles
There are six core principles underlying the development and implementation of poverty reduction strategies. The strategies should be: country-driven, involving broad-based participation by civil society and the private sector in all operational steps results-oriented, and focused on outcomes that would benefit the poor comprehensive in recognizing the multidimensional nature of poverty prioritized so that implementation is feasible, in both fiscal and institutional terms partnership-oriented, involving coordinated participation of development partners (bilateral, multilateral, and non-governmental) based on a long-term perspective for poverty reduction
More information:
 Overview of Poverty Reduction Strategies
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Poverty Reduction Strategy in Mongolia
The Government of Mongolia has submitted its Poverty Reduction Strategy Paper, which is called the Economic Growth Support and Poverty Reduction Strategy (EGSPRS), to the World Bank and IMF for review in August 2003. Under this strategy, the Government is seeking to reduce poverty by ensuring higher economic growth and focusing on education, health and social welfare sectors. The development of more efficient budgeting mechanisms and financial management, as well as public sector reforms are also important ingredients of the EGSPRS.
Specifically, the EGSPRS aims to: deepen the reforms for ensuring macroeconomic stability, and to intensify the process of economic restructuring; improve the health of the banking and financial sectors; recover and develop national industry to ensure economic growth through export-oriented industry; develop infrastructure to support regional as well as rural development; improve the quality of education at all levels and greatly expand access to health services; reduce unemployment and poverty, to generally improve the living standards of population; ensure sustainable development and ecological balance and mainstream nature conservation and environmental policies as priorities within regional socio-economic development; accelerate land reforms; reduce the air, water and soil pollution in large cities and settlements; to improve the living environment of the people through the reprocessing of waste; improve governance to ensure human security; create a fair, moral and democratic society that protects concepts of democracy, basic human rights and the freedom of each citizen; and mainstream gender dimensions in poverty interventions to promote gender equality.
Download the Mongolia Poverty Strategy Paper (2.24mb pdf) Pickup a copy of the Country Assistance Strategy at the local Public Information Center.
More information:
Mongolia PRSP Page (World Bank Poverty Website)
Poverty Reduction Strategies
Main World Bank Poverty Website
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