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Approach Paper Evaluation of the International Finance Corporation’s Short-Term Trade Finance Programs, 2006-2011



finance as part of the World Bank Group’s (WBG) broader strategy to enhance trade in developing countries. The 2011 strategy Leveraging Trade for Development and Inclusive Growth identified areas that the WBG is emphasizing in its support for enhanced trade in developing countries. 1 The strategy is premised on the central role of trade as a driver of economic growth and development in developing countries. WBG documents cite research indicating that “no country in the last 50 years has sustained high levels of growth and significantly increased per capita incomes without greatly increasing trade”. 2 Open trade enables countries to exploit their comparative advantage, create and expand competitive industries, and generate economic opportunities and employment. The main objectives of the Bank Group’s strategy to support trade are to help enhance trade competiveness and export diversification; reduce trade costs; expand market access; improve management of shocks; and enable greater participation in trade activities (see illustration in Figure 1). Progress toward each of these objectives is considered critical to attaining the overall goal of enhancing trade in developing counties

Year: 2012
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