CENTRAL AFRICAN REPUBLIC - Economic and Social Reform Consolidation Support Programme - Phase II (PACRES II)

Management submits the following proposal and recommendation concerning the award of a grant of UA 8 million from the resources of the African Development Fund (ADF) to the Central African Republic to finance Phase II of the Programme d'Appui à la Consolidation des Réformes Economiques et Sociales (PACRES). The operation proposed for 2024 (8 MUC) is the second phase (Phase II) of a programmatic operation resulting from a multi-year program launched in its first phase (Phase I) in 2023 (7.5 MUC). The operation is designed to respond to a request submitted on March 3, 2023 by the Government in the context of socio-political and economic shocks that have led to a drop in the State's financial resources and negatively impacted the living conditions of the population. In response to this request, the Bank proposed a two-phase programmatic budget support operation. Approval for an amount of 8MUC is sought for phase II for the year 2024, in order to consolidate the various reforms undertaken to mobilize internal resources and improve the provision of basic social services.