The key objective of the agreement is to redefine the 30 year-long cooperation of Hungary with the World Bank. In this renewed framework the value of Hungary’s membership in the Bank can be maximized by using the broad global knowledge base and technical capacities to support the preparatory phase and implementation of structural measures by the Government.

In accordance with the MoU, the World Bank will assist with technical expertise the implementation of structural Government measures laid down in the Széll Kálmán Plan. The agreement is primarily focused on the following fields: fiscal and other sector-specific policy strategies, growth strategies, analysis of the pension system, development of the financial sector (partly fields related to addressing issues triggered by the euro-zone financial crisis), integration of the Roma population, improving public administration capacities as well as monitoring and assessing programmes financed from EU and national development funds.

As Hungary has been a “graduate” member of the World Bank, therefore similarly to the majority of EU member countries Hungary no longer utilizes financial resources of the Bank, but participates in its global projects aimed at reducing poverty. In the region similar cooperation programmes have been concluded, among others, with Slovakia and Latvia, whereas Poland, the Czech Republic and Slovenia utilize advisory assistance of the Bank.

Source: kormany.hu