Fifth Poverty Reduction Support Grant-PRSC 5

closed

Closed

The overall objective of the Fifth Poverty Reduction Strategy Credit (PRSC-5) Project is to support implementation of Benin's poverty reduction strategy. Specifically, it will support: (i) modernizing the regulatory framework and policy environment for private investment and infrastructure; (ii) increasing progress toward the Millennium Development Goals (MDGs) by raising the quality, efficiency, and access for basic social services; and (iii) promoting better governance through public financial management reforms. The design of the series benefited from large consultations with various stakeholders under the Government's leadership, and included close coordination with a group of donors who provide budget support to Benin on the Strategy for Growth and Poverty Reduction (SCRP) implementation. These consultations ensure government ownership of the supported policies and harmonize donors around a common set of key reforms. The economy heavily relies on the agricultural sector, in particular cotton, and transit trade with Nigeria. The agricultural sector accounts for about 32 percent of gross domestic product (GDP) and provides nearly 70 percent of the country's workforce while cotton is the major primary export commodity with about 40 percent of total exports over 2006-07. Transit trade with Nigeria is estimated to represent between 6.5 and 7.5 percent of GDP and explains the vulnerability of the economy to trade policy changes in its neighboring and main trade partner.

FY17 - Energy and Extractives,FY17 - Health,FY17 - Industry, Trade and Services,FY17 - Public Administration,FY17 - Water, Sanitation and Waste Management

World Bank Group

Project

Water Supply and Storage, Waste Processing and Treatment, Raw Materials, Government