On December 18, 2007 the World Bank Board approved a new, four-year Country Assistance Strategy for Papua New Guinea (PNG). The overarching goal of the FY2008-11 Country Assistance Strategy is to help reduce poverty in PNG. The strategy is envisaged as the first in a series of Bank Group strategies covering the next 15 to 20 years---and is thus conceived of as the beginning of a new Bank Group partnership with PNG. The strategy is based on two main pillars, namely supporting the sound and transparent management of the country’s natural resources and resource revenues; and addressing the needs of the poor by creating economic opportunities and improving the delivery of basic services.
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