Poverty Reduction Support Credit 3 (PRSC 3)

closed

Closed

The Third Poverty Reduction Support Credit supports the National Strategy for Social and Economic Development (NSSED), in line with the Bank's strategy presented in the Country Assistance Strategy (CAS). The project supports the implementation of key reforms aimed at promoting economic growth, strengthening public sector governance, and improving social service delivery. Furthermore, the project will help consolidate reforms in public administration, public expenditure management and accountability, and social sector service delivery, supporting the country's efforts to increase the Government's accountability, responsiveness, and effectiveness. Civil service administration reforms would help increase professionalism among civil servants, and, together with reforms aimed at improving the performance of social sector line agencies, and the social insurance institute, would thus improve the public sector's capacity to effectively regulate, monitor, and deliver services. Reforms in the areas of public expenditure management, financial accountability, and procurement, improve transparency and the effectiveness of public spending. There is however, the risk that the institutional mechanisms and frameworks put in place to improve transparency, and accountability in the public sector, may at times be circumvented to reap political benefits in the run- up to the mid-2005 elections. Nonetheless, the Government's track record in maintaining macroeconomic stability through prudent fiscal, and monetary policies, constitutes a strong mitigating factor. In addition, the support provided under this project will be followed by balance of payments support from the European Community. On a longer term basis, the Government is committed to increasing budgetary revenues, through improvements in tax administration, and revenue collection, to help strengthen its fiscal position, and external balance.

FY17 - Agriculture, Fishing and Forestry,FY17 - Education,FY17 - Health,FY17 - Industry, Trade and Services,FY17 - Public Administration

World Bank Group

Project

Raw Materials, Forest Products and Packaging, Government, Education