   What are Poverty Reduction Strategy Papers ? Nationally-owned Poverty Reduction Strategy Papers (PRSPs) are the basis of all concessional lending by the World Bank. PRSPs are prepared by national governments and describe a country's policies and programs to promote growth and reduce poverty. They also specify the external financing needed to carry out these policies and programs. PRSPs are prepared by governments through a process that brings civil society and development partners, including the World Bank and the International Monetary Fund (IMF), together. Interim PRSPs (I-PRSPs)
A country needs to write a PRSP only once every three years. However, changes can be made to the PRSP using an Annual Progress Report. Where countries are not in a position to complete the key steps to develop a PRSP, an Interim PRSP ( I-PRSP) can be prepared. An I-PRSP outlines a country’s existing poverty reduction strategy and provides a road-map for the development of a full PRSP. World Bank and IMF Assessments of PRSPs and I-PRSPs  World Bank and IMF Joint Staff Assessments (JSAs) evaluate the soundness of PRSPs and I-PRSPs and thereby assist the Boards of the World Bank and IMF in judging whether an I-PRSP or PRSP provides a sound basis for assistance and debt relief.     More on PRSPs
PRSP for Serbia and Montenegro
The PRSP for Serbia and Montenegro gives an overview of poverty in the country followed by a section for each republic. It builds on the Interim PRSP for Yugoslavia presented in August 2002 and contains a diagnostic assessment of poverty and a vision for a comprehensive poverty reduction strategy. The Governments recognize that poverty is multidimensional and is correlated with unemployment, low levels of education, large family size, single-member and elderly households, and vulnerability. The highest rates of poverty in the republics are found among vulnerable and socially excluded groups, including displaced persons, refugees, the disabled, and the Roma population. Main features of PRSP The overall poverty reduction strategy consists of: a) establishing the conditions for dynamic and equitable economic growth, through the creation of a stable macro-economic environment and favorable investment climate; b) prevention of new poverty resulting from the modernization and restructuring of the economy through targeted training and social measures; and c) improved access to social services by the poor, through improved targeting of existing programs, and improvements in the efficiency and quality of services delivered. Joint IDA/IMF Staff Assesment of PRSP
The Joint Staff Assessment highlights the areas in the PRSP which need to be developed further and indicates that the Serbia and Montenegro PRSP provides an adequate basis for World Bank support Measures of poverty Measures of poverty levels are country specific. The poverty line in Serbia is an average of € 2.40 a day, and in Montenegro it is €3.50 a day in Montenegro. Non-income poverty thresholds are set according to prevailing norms. For example, adults who have not completed primary schooling are defined as being educationally poor, housing poverty is defined as substandard housing (households not connected to tapped water and using latrines, households living in a building unsuitable as dwelling or living in overcrowded dwellings with more than 3 persons per room), etc. To the extent it makes sense, these definitions are made comparable to the set of indicators recommended by the Eurostat task force on social exclusion and Millennium Development Goals.
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Interim Poverty Reduction Strategy Paper (July 2002)
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