Making PRSP Inclusive
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5 PRS and stakeholders

The World Bank and the IMF initiated the PRSP concept in 1999. The idea was for low-income countries to formulate a national strategy for reducing poverty which describes the country’s development objectives, the programmes that have to be introduced to achieve these objectives, and the funding required to implement them. By establishing their own Poverty Reduction Strategy (PRS), countries obtain access to debt relief and other financial support from the IFIs and other donors. A wide variety of different stakeholders should participate in the national PRS, such as the government, members of parliament, civil society groups and private sector representatives. The whole process is coordinated and led by the governments of the countries in question. The World Bank and the IMF may provide technical support and advice, but the main leader of the process should be the country itself. The development of the PRS process, its stakeholders and their (inter)relations are described in this chapter.

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