Eighth Poverty Reduction Support Financing

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The development objective of the Eighth Poverty Reduction Support Financing Project (PRSF-8) for Rwanda is to support the development of policies that facilitate increased private sector investment and involvement and ease constraints to broad based growth. The PRSF-8 supports the Government of Rwanda as it implements its medium-term strategy towards the attainment of the Vision 2020. It supports the Government's second Poverty Reduction Strategy Paper (PRSP), the Economic Development and Poverty Reduction Strategy (EDPRS). The EDPRS covers the period 2008-2012 and provides a medium-term framework for achieving the country's long-term development aspirations as articulated in the vision 2020. It describes the Government's development objectives of consolidating the achievements in rehabilitation and reconstruction and accelerating the transformation to a middle-income nation with a knowledge-based economy. It presents a strategy focused on growth and human development, with an emphasis on decentralization, and a greater role for the private sector. The EDPRS priorities are articulated through three flagship programs aimed at promoting sustainable growth and poverty reduction and improving governance. The Rwanda PRSF series is the Bank's key policy dialogue instrument and it provides a broad framework to support the reform process in Rwanda. In addition, it leverages other Bank operations in areas supported under this series. Supported reforms to increase efficiency, transparency and accountability in the public sector include public financial management to ensure that resources are used more efficiently and effectively to benefit all parts of the population, including the poor.