BJ-PRSC 8-Eighth Poverty Reduction Suppo

closed

The development objective of the Eighth Poverty Reduction Support Credit (PRSC) Program for Benin is to strengthened public sector management, administration and governance; and strengthened business environment. President Yayi's Government has demonstrated a renewed commitment to a substantive reform agenda since earning a second mandate and enjoying a majority coalition in the National Assembly. Over the past 18 months the Government has implemented difficult reforms at the port of Cotonou, has proceeded with meaningful anticorruption efforts, has made progress in strengthening public financial management, public procurement processes in particular, civil service reform has accelerated, and important steps have been taken in improving the business enabling environment. Some of these efforts were met by stiff resistance, and implementation is proving difficult. The Government has nonetheless demonstrated considerable resolve in proceeding with this reform agenda. Eight PRSC supports this reform effort, strengthens and reinforces the substantial progress achieved in these key areas and provides needed financial resources to help maintain macroeconomic stability.