Guinea - Economic and Financial Reform Support Programme - Phase II (PAREF II)

PAREF II aims to modernize public resource mobilization, allocation and management systems, as well as promote private sector development. It will help to consolidate the gains of the previous programme (PAREF I), and support second-generation reforms designed to more effectively meet the challenges of inclusion. The guidelines underlying the design of this programme are as follows: (i) increase Government resources to enable it to support growth through public investment programming based on PRSP III development priorities; (ii) enable the Government to better play its role as public authority and major economic stakeholder in the private sector by improving the regulatory and institutional framework, as well as the conditions for electric power supply, which is a key factor in promoting the private sector and improving the living standards of the population. In this regard, the programme will have two components: (i) strengthening of public management; and (ii) improvement of the business climate and governance in the electricity sector.