Multinational - Macroeconomic Stability and Financial Integration Project in Southern Africa Development Community

The Macroeconomic Convergence and Financial Integration project is a regional initiative designed to enhance SADC’s capability to implement the macroeconomic convergence programme and integrate the stock exchanges, which ultimately will contribute to resource mobilization for regional projects and programmes. The proposed operation complements other Bank-financed multinational ISPs aimed at enhancing convergence of standards and reforms, strengthening economic governance and Africa’s public finance management and domestic resource mobilization efforts for improved service delivery. in Africa e.g., the APRM Institutional Support Project, the Regional Institutional Support Project on Public Financial Governance, which supports the Collaborative African Budget Reform Initiative (CABRI) and the African Tax Administrators Forum (ATAF). It will also complement other Bank-funded programmes at national level which are delivered through budget support and institutional support projects. Strengthening the link between interventions at national and regional levels will help to give impetus to SADC’s macroeconomic convergence. The project is designed as a four-year programme and will be financed from the ADF Grant Resources. The project budget net of taxes and duties is UA 5,500,000. The proposed operation has three mutually reinforcing components: (a) strengthening macroeconomic convergence, (b) improving financial market integration and (c) project management and co-ordination.