What is a PRSP?
Poverty Reduction Strategies (PRS) and 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 and major sources of financing. They are prepared by governments through a participatory process involving civil society and development partners, including the World Bank and the International Monetary Fund (IMF). A country only needs to write a PRSP every three years. The coverage of PRSP’s varies from country to country, but lately are converging to cover a government period. However, changes can be made to a PRSP using an Annual Progress Report which analyzes PRSP implementation and progress on achievement of stated goals. The country documents are being made available on the World Bank website by agreement with the member country as a service to outside users. See PRSP for Latin America & the Caribbean.
What is a JSAN/JSA?
After a country prepares a Poverty Reduction Strategy Paper (PRSP), World Bank and IMF staffs prepare an advisory note (the Joint Staff Advisory Note—JSAN) which is presented to the Boards of both Institutions. The objective of the JSAN is to provide focused, frank and constructive feedback to countries on their PRS, noting priority areas for strengthening the PRS and its implementation over the coming year. See JSAN/JSA for Latin America & the Caribbean.
What is a PRSC/DPC?
Poverty Reduction Support Credits (PRSC) and Development Policy Credits (DPC) are financed by the World Bank to less developed countries to support implementation of a PRSP. PRSCs are programmatic, meaning that they are multi-year series of credits, approximately one per year. DPCs are stand alone credits.