BJ-PRSC 6 Supplemental Credit

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The overall objective of the Supplemental Financing for the Sixth Poverty Reduction Support Credit Project is to support implementation of Benin's poverty reduction strategy. Specifically, it supports: 1) modernizing the regulatory framework and policy environment for private investment and infrastructure; 2) increasing progress toward the Millennium Development Goals (MDGs) by raising the quality, efficiency and access for basic social services; and 3) promoting better governance through public financial management reforms. As such, this supplemental financing is complementary to several investment projects that will directly address specific needs in several sectors, including agriculture, urban infrastructure and education. These additional investments will address medium term needs to repair damaged infrastructure, address ongoing and medium term food needs of affected populations and assist in disaster preparedness and mitigation through not only assisting the authorities in their own efforts, but by significantly physically improving some of the hardest hit urban environments so that the impact of future occurrences in these locales are mitigated and minimized. The supplemental financing here will provide direct budget support to the Government of Benin in order to augment their resources as a result of the increased budgetary demands arising from the flood disaster.