Democratic Republic of Congo - Congolese Economic Recovery Support Project

The Congolese Economic Recovery Support Project (PAREC) is designed to improve fiscal performance and facilitate private sector recovery. It will involve combining fiscal adjustment with structural reforms of the investment climate to release the potential of the private sector and curb the temporary negative effects of the current crisis. The project will support an improvement in the quality of life for the people of Congo, build the capacity of various institutions and staff of the Court of Auditors, the Tax Office, ANAPI and the ministerial units in charge of PPPs. It will also help to stabilize public finances by rationalizing expenditure management in a context of improved resource mobilization. Furthermore, the project will promote transparency, especially in the extractive industry sector, through support to the EITI. Lastly, the project will improve the investment climate by overhauling the business environment. PAREC will mostly seek to consolidate the achievements of previous Bank interventions. It has three complementary components (i) improve budgetary performance and fight corruption, (ii) support economic recovery, and (iii) promote efficient project management.