Cote d'Ivoire: Economic Governance & Recovery Grant (EGRG)

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The objectives of the Economic Governance and Recovery Grant (EGRG) are to: (i) facilitate the clearance of Cote d'Ivoire arrears to International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), which is required to restore normal relations between the country and the World Bank; and (ii) support Cote d'Ivoire in its post-conflict economic and social recovery. Given the complex post-conflict environment and governance and transparency issues facing the government, this second objective is pursued by supporting government-owned reforms to improve governance, transparency and efficiency in public expenditure management as well as advance structural reforms aimed at strengthening governance and transparency in the key sectors of the economy (energy, cocoa and financial sector). The Government recognizes the crucial importance of economic governance and transparency and is committed to implement policy reforms to strengthen fiscal sustainability, improve private sector confidence and enhance transparency of state institutions and processes -- critical elements for the country's economic and social recovery and for stability and stronger growth in the sub-region.