Dominican Republic Strengthening Management of Public Finances DPL

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The Strengthening Management of Public Finances Development Policy Loan (DPL) Program Project for Dominican Republic is a stand-alone; United States (U.S.) 60 million dollars DPL designed to support the Dominican Republic’s efforts to improve the management of public debt, strengthen the management of public expenditures, and enhance the transparency and monitoring of government operations. The program has three pillars that stem from the reform agenda of the government and the country partnership strategy (CPS) of the World Bank: (a) improved flexibility and transparency in the management of public debt; (b) strengthened planning, budgeting, and execution of public expenditures; and (c) enhanced transparency and monitoring of government operations. The operation constitutes the first budget support operation to the country since 2012. The operation reflects the notable improvements in fiscal and financial management observed since then and builds on past and ongoing Bank-supported initiatives in the country, including the performance and accountability of social sectors DPL series, which have yielded positive results in budget management, performance management, and civil society oversight in key social sectors. The policy measures supported under this operation are aimed at locking in the core elements of the public financial management (PFM) reform agenda.