In FY16, the Competitive Industries and Innovation Program (CIIP) continued to support client countries in their efforts of improving their economies. CIIP helps leverage large amounts of aid funding. The purpose of CIIP is to support the creation of private sector employment by enabling and promoting firm-level competitiveness across industries.
During the course of our fiscal year, CIIP support contributed to the creation of close to 9,000 new jobs. More than $3 million were leveraged for the financing of innovation activities, and a total of $55 million were approved and disbursed in commercial loans to private firms. Also, 210 new firms were created and 374 small and medium enterprises (SMEs) were directly supported with training.
CIIP has expanded activities to seven additional projects in six new countries during this reporting period. In the African, Caribbean and Pacific Group States (ACP) region, new countries include Nigeria and Suriname. In the non-ACP region, new countries include Albania, the Arab Republic of Egypt, Jordan, and Morocco. Tanzania in the ACP region gained a new project.
“As we embark on our fourth year, we hope that the CIIP partnership will grow stronger and will achieve much more impact on those living in poverty. We hope to further improve, to learn more of what does and does not work, to create more evidence-based solutions, to collect more data, and to develop many more policy solutions for our clients and partners in development.” - Anabel González, Senior Director, Trade & Competitiveness Global Practice, The World Bank Group