Multinational - Support Program for Regional Technical Assistance Centers in Africa (AFRITAC-II)

This project concerns the second phase of the Support Program for Regional Technical Assistance Centers in Africa (AFRITAC-II). The initiative to create Regional Technical Assistance Centers in Africa (AFRITACs) was launched in February 2002 by the International Monetary Fund and was the subject of broad-based consultation with the Bank. The main goal of the AFRITAC initiative is to help build the capacities of African countries to ensure efficient macroeconomic management in the PRSP implementation process. The centers are set up as a response to the major development challenges that Africa has to address through capacity building in order to attain its poverty-reduction objectives. Phase II of the Program consists in extending the activities of the first two Centers (West and East AFRITAC) and creating a third center (Central AFRITAC). On the whole, these three centers will cover 25 African countries. The Program is based on four components: (i) Macroeconomic management support, with five sub-components on public finance management, customs and tax administration, debt management and the macro-budget program; (ii) Financial system support, with two sub-components on consolidation of bank regulations and the microfinance sector; (iii) Information system support; and (iv) Program management. The total budget is US$ 45.7 million. The project is estimated to last for 36 (thirty-six) months; meaning that it should be completed by the end of December 2009.