World Bank Program to Date
The Czech Republic joined the World Bank in 1993 by joint succession with the Slovak Republic from the former Czechoslovakia. Through the 1990's, the World Bank supported key structural reforms and the modernization of sectors such as the financial sector, energy, and telecommunications. In addition, through Global Environment Facility grants, the Bank helped phase out ozone-depleting substances, protect biodiversity, and improve district heating.
From 1998 onward, the World Bank's assistance evolved toward a focus on advisory services to support the country's EU accession process, capital and financial market reform, enterprise restructuring, and fiscal management improvement. Efforts also focused on corporate governance, the regulatory framework, and pension reform, with some activities continuing in the energy and environment sectors.
The Czech Republic graduated from the Bank's financial assistance in Spring 2006 but maintains an active partnership with the Bank on technical assistance and analytical work.
The Bank has an active fee-for-service program in Czech Republic, which currently encompasses: implementation of tax, customs and social security revenue integration improvements to remittance systems and labor system analysis. The Bank is also working with the Czech authorities to support region-wide efforts to tackle Roma exclusion.
The collaborative relationship between the Czech Republic and the World Bank has provided opportunities to learn lessons and develop analytical instruments which also benefit other countries in the Region which started their transitions later.
As a development partner, the Czech Republic contributes to the International Development Association (IDA), the Bank's concessional window, and plays an active role in regional and multilateral institutions.