First Competitiveness and Public Financial Management DPL

closed

Closed

The First Competitiveness and Public Financial Management Development Policy Loan Project of Panama is the first in a programmatic series of two Development Policy Loans (DPLs), which build upon the Public Finance and Institutional DPL included in the previous Bank interim country strategy, intended to support the Government's development program as described in its Strategic Vision document. Within this framework, this DPL series focuses on actions aimed at: 1) Promoting broad-based growth through the enhancement of private sector competitiveness, by reducing bureaucratic red tape, improving training policies, and increasing investments in innovation; and 2) Consolidating fiscal sustainability, transparency and efficiency through the modernization of public financial management systems for revenue, debt, fiscal reporting, and public procurement. The actions supported by the DPL series are expected to enhance private sector competitiveness and public financial management, with a view of improving public sector efficiency and effectiveness in a fiscally sustainable fashion, thus influencing the country's enabling environment for private sector development. The DPL series will also contribute to fiscal stabilization and efficient spending by helping diversify external sources of finance and obtain better financial terms. This DPL program takes into account potential risks in three areas: economic, political and institutional strategy.

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

World Bank Group

Project

Government