In 2011, the Inter-American Development Bank's (IDB) Board of Directors endorsed the organization's re-engagement with the Government of Suriname by approving the 2011-2015 Country Strategy with Suriname. During 2011, the IDB's Board approved the unprecedented allocation of US$300 million to Suriname, and specifically committed US$80 million of its medium-term lending envelope to Suriname for projects that would modernize the country's financial sector, strengthen its public finances, and promote its social protection mechanisms.

The Government of Suriname continued to partner with the IDB in 2012 to deliver on the objectives of the Development Plan and the 2011-2015 Country Strategy. For example, the IDB's sovereign lending program with Suriname delivered two programmatic policy-based loans, totaling US$35 million, which supported structural reforms in the energy sector and public capital expenditure management. A complementary investment program of US$53.7 million financed capital works in education and transport. In addition, the Bank provided US$1.7 million in grants and technical assistance in agriculture, energy, and social protection.

With respect to the private sector windows of the IDB, the Multilateral Investment Fund (MIF) recorded high approvals with US$2.7 million in technical assistance for small-scale farming, micro franchising, and rural electrification. The Bank's Trade Finance Facilitation Program formalized a line of credit of up to US$5 million with to promote economic growth through trade promotion. Suriname also received US$500,000 through the Compete Caribbean regional initiative to support its home-grown competitiveness enhancing initiatives for fostering private sector development.

Knowledge generation and dissemination were also a prominent feature of the partnership in 2012. The IDB facilitated the training of more than 100 public officials, executing agencies staff, and prospective project members in project management for results, procurement and financial management. The Bank's analytical efforts concentrated around understanding the role of productivity, private sector constraints, and the effects of global price movements on the domestic economy.

Going into the third year of the strategy implementation, IDB officials are optimistic about the partnership with Suriname. "We continue to see the fruits of our close collaboration with Suriname and are excited to work with such a committed partner. We are strengthening our dialogue and expanding our support to key economic sectors. Keeping up, while paying attention to development objectives is important. We have a challenging year and look forward to working with the authorities and the people of Suriname," said Marco Nicola, the IDB Representative in Paramaribo.

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