In his reply, Mr.Somavia gave the assurance of the ILO’s full support, stressing the belief that the best route out of poverty for the majority of the poor was access to decent work. By a joint letter dated 10 December 1999, the President of the World Bank and the Managing Director of the IMF appealed to the Director-General for the ILO’s cooperation in the development and support of nationally-owned PRSPs. In line with the principles of the Comprehensive Development Framework (CDF), the PRSP would reflect the outcome of an open participatory process involving governments, civil society, relevant international institutions and donors. The PRSP would serve as a vehicle for developing country ownership.
The World Bank-IMF Annual Meeting in September 1999 provided a strong endorsement of proposals to place poverty reduction at the centre of Bank and Fund concessional assistance for low income countries, with a country-owned poverty reduction strategy reflected in a Poverty Reduction Strategy Paper (PRSP) which would be the centrepiece efforts to address poverty reduction more systematically.
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