Founding  Principle of the PRS and PRSPs

In December 1999 the World Bank (WB) and the IMF launched a new strategy to approach poverty reduction in low-income countries based on country-owned poverty reduction strategies. With this localized approach, country-specific poverty problems are tackled with a result orientated approach  aiming at resolving the problem long-term [The strategies were to be accompanied by Poverty Reduction Strategy Papers (PRSP) that would serve as a framework for development, assisting the country beyond the operations of the Fund and the Bank.

UNDP through the OECS and its own national programmes has supported the development of IPRSPs and PRSPs in the four Windward Islands. In 2004 both Dominica and Grenada completed a Poverty Reduction Strategy.