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Poverty Reduction Strategy Papers

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Support from countries in the North is not enough to combat poverty in Southern countries effectively. It is equally important that Southern countries be included in this endeavour as responsible partners. This is why the World Bank and the IMF suggested Poverty Reduction Strategy Papers (PRSP), which are drawn up by the government of the affected poor country. The participatory process to develop these papers involves local stakeholders and external partner organisations such as the World Bank and the International Monetary Fund. PSRPs describe the country’s macro-economic, structural and social policies as well as their medium-term growth promotion and poverty reduction plans and the funds required to finance them. Every three years, a report is made on the progress achieved and the PRSPs are updated.