Poverty Reduction Support Credit 4

closed

This program document proposes a Fourth Poverty Reduction Support Credit (PRSC IV) for the Republic of Senegal. The amount of this credit has been increased from US$33 million equivalent envisaged in the country assistance strategy (CAS) to SDR28.4 million (US$ 43 million equivalent) through the addition of SDR6 million from the pilot crisis response window resources to help Senegal mitigate the lingering impact of the global economic slowdown. This operation is the first of a programmatic series of two PRSCs-PRSC IV of PRSCs IV-V. The proposed series supports the implementation of the final year of the Government's Second Poverty Reduction Strategy Paper (PRSP-II) and assists in the development and early implementation of its successor PRPS-III in the challenging context of an exceptionally unfavorable global environment. The overarching objective of this second series is to contribute to strengthening the Government of Senegal's policy making and institutional capabilities to accelerate broad-based growth, to improve access to social services, to mitigate vulnerabilities, and to foster good governance.