MG - Resilience DPO

closed

Closed

This program document proposes a Resilience Development Policy Operation for the Republic of Madagascar for the amount of SDR 39.4 million (US$55.0 million equivalent). The program is the second stand-alone single tranche operation to be presented to the Board of Executive Directors, following the Reengagement DPO approved by the Board on December 18, 2014 after the end of the applicability of OP 7.30 to Madagascar in 2014. It aims to contribute to three of the four areas of reform that the Systematic Country Diagnostic (SCD) identified as potentially having a large impact on poverty in the short to medium term. The reform areas are fully aligned with the Government’s efforts to improve budget efficiency and support economic growth by unlocking energy and transport constraints. Those reform efforts are still in their initial stages and have produced few results so far, but will be further advanced by investment projects that are expected to be presented to the Board in late FY16 Q3. For this reason, and because the political stability is still fragile, a second stand-alone single tranche operation, rather than a programmatic series, was prepared with the aim of providing support to the country’s resilience as it seeks to consolidate the return to constitutional order. The program development objective of the operation is: (i) strengthening reporting and increasing availability of information relevant to assessing the effectiveness of public finance, and (ii) improving payroll management and consolidating accounts in line with the treasury single account principle.

FY17 - Public Administration

World Bank Group

Project

Government