First Competitiveness and Fiscal Management Programmatic DPL

closed

Closed

The objective of the First Competitiveness and Fiscal Management Programmatic Development Policy Loan for Jamaica supports policies aimed at (i) improving investment climate and competitiveness and (ii) sustaining fiscal consolidation and enhancing public financial management. This project is an attempt by the Government of Jamaica to restore macroeconomic stability and pave the way for higher and inclusive growth. This development policy loan supports reforms aimed at removing impediments to competitiveness, economic growth, and debt sustainability. The first of the two pillars, mentioned as policies above, supports specific elements of the government’s agenda that would improve competitiveness and facilitate growth. These include addressing the development approvals process, the high cost of electricity, supporting the Logistics Hub Initiative identified by the Government as a key growth initiative and the associated trade facilitation measures that would ensure its success. The second pillar supports structural reforms for fiscal consolidation, increased transparency and efficiency of expenditures, and improved public investment management. The Government has made significant progress in these areas of reform since early 2013. Going forward, there is a need to preserve the gains from reforms so far, and begin work on additional reforms that would increase efficiency in the use of public monies.

FY17 - Industry, Trade and Services,FY17 - Public Administration

World Bank Group

Project

Power Generation (CCGT), Warehouse, Oil and Gas, Government