What does it take revitalize private sector growth in a post-conflict country?
In the Union of the Comoros, an archipelago nation off the coast of East Africa, decades of institutional instability are giving way to the reestablishment of political calm and, in the process, setting the stage for a better business environment.
But challenges abound. Entrepreneurs and investors alike still face numerous administrative barriers to starting a business, getting credit, or even accessing investment guarantees.
The World Bank Group and a community of international partners have been working with the Comorian government and the private sector since 2010 to find ways to minimize such barriers. Since that time, a series of regulatory reforms have been introduced. Steady improvements to the investment climate were seen in this years’ Doing Business report. Reforms have reduced the number of days and procedures needed to start a business among other indicators. And the Comoros’ recent membership to the Multilateral Investment Guarantee Agency (MIGA) has boosted its investment potential by providing political risk insurance to foreign investors.
See how these reforms and institutional collaboration are signaling the start of a new chapter for this post-conflict country.
For more on private sector development around the world, please visit the World Bank’s PSD blog.
Published on the SAIS Review blog with permission from Stephanie Liu