Poverty Reduction Support Credit (11)

closed

This operation aims to support the authorities' efforts to boost real growth through improved country competitiveness and increased private investment, and the reduction of poverty. The development objectives of the Eleventh Poverty Reduction Support Grant Program is to improve the investment climate and promote exports with six intermediate results; and promote efficiency, transparency and accountability in the use of public resources. The operation is an integral part of the World Bank Group's country assistance strategy for FY10-12 and remains aligned with the overarching principle of aid harmonization as defined in the joint donor framework known as General Budget Support Framework (CGAB). The operation seeks to meet the Government's budgetary financing needs to support the implementation of growth-enhancing strategic priorities under the Second Poverty Reduction Strategy Paper (PRSP-II) and the Strategy for Accelerated Growth and Sustainable Development (SCADD), mainly in relation to public investment, service delivery, and job creation, while providing resources as the country may begin to absorb the effects of the Ivorian crisis and the surge in the international oil and food prices. Finally, the operation aims at consolidating development outcomes achieved throughout the current Poverty Reduction Support Credit /Grant (PRSC/G) series. The main themes of the series focus on: 1) improving the investment climate and promoting exports; 2) protecting access to decentralized basic services; and 3) promoting efficiency, transparency and accountability in the use of public resources.