guided by the CPS (FY2015-19). It provided technical support for the design of a new program to help the poor and improve the statistical capacity to monitor and measure poverty and welfare conditions. IFC continues to explore assistance in the areas of financial inclusion, tourism, agribusiness, and manufacturing. IFC hosted two major events to promote understanding of the subject among stakeholders. The World Bank Group is preparing a new Country Partnership Framework (2017-2021 which will be aligned with goals the 13th Five-Year Plan. For example, China 2030: Building a Modern, Harmonious, and Creative Society, a joint research report by the World Bank and the Development Research Center of Chinas State Council, lays out six strategic directions for Chinas future: completing the transition to a market economy; accelerating the. Since its first investment in 1985 to date, IFC has invested US12.5 billion (combined IFC's own account and mobilization, including short-term finance) to support over 370 projects across 30 provinces in China. The Performance and Learning Review was completed in June 2017. New approaches are also being introduced to finance investments to improve energy efficiency, pilot and expand the use of innovative renewable energy sources, rehabilitate and modernize urban district heating systems, and address air pollution. A Systematic Country Diagnostic will be carried out in FY2018-19 to assess Bhutans development constraints and priorities. Promoting more inclusive development, by increasing access to quality health services and social protection; strengthening skills development programs, including for migrant workers; enhancing opportunities in rural areas and small towns; and improving transport connectivity for more balanced regional development.
It also receives trust fund financing for biodiversity conservation and for food security and agricultural productivity. IFCs strategic priorities in China focus on climate change, including renewable energy, energy efficiency, water efficiency, clean tech, green policy and green credit; balanced rural and urban development, including a focus on frontier regions, food safety, scaling up microfinance outreach and capacity, and agricultural linkages;. The CPS is aligned with the 11th FYP and WBG activities are organized under three results areas: improving fiscal and spending efficiency; increasing private-sector growth and competitiveness; and supporting green development. IFC and the World Bank work together to strengthen Bhutans financial market and investment climate. It is informed by the joint study, China 2030, prepared by the World Bank and the Development Research Center of the State Council. Under IDA18 (FY2018-20 Bhutan is eligible to receive approximately 100 million in IDA financing. The CPF will also be informed by the joint study, Urban China, prepared by the World Bank Group and the Development Research Center of the State Council. In fiscal year 2017, IFC has invested US864 million in 19 projects.
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In line with the governments increased emphasis on growth that is balanced with social and environmental concerns, the focus of the Banks activities in China has shifted significantly. It consists of an equity participation in Bhutan National Bank (BNB a loan to help finance the refurbishment and expansion of a world-class tourist hotel, Zhiwa Ling, and an equity investment to support a hazelnut plantation, nursery, and processing operation. IFC has made five investments in Bhutan since it became an IFC member in 2003. . As China develops, collaborative research and analysis are becoming an important part of the Banks engagement. IFCs advisory support on investment climate reforms, enhancing financial inclusion and SME development is expected to continue. miga has yet to guarantee a project in the country, but the Agency remains engaged and is ready to support productive projects, across sectors, in Bhutan.