Poverty Reduction Support Credit (PRSC1)

closed

The objectives of the First Poverty Reduction Support Credit Program (PRSC-1) for Zambia will be to contribute towards: a) preserving macroeconomic stability and improving public sector performance; and b) supporting broad-based growth by improving efficiency in the energy sector and reducing the costs of doing business This program document presents a Development Policy Operation (DPO) to the Republic of Zambia for SDR 12.9 million (US$20 million equivalent) to finance the PRSC-1, designed to further the government's reform program in support of Zambia's Fifth National Development Plan (FNDP). The operation is part of a collective effort by the Government of the Republic of Zambia (GRZ) and Poverty Reduction Budget Support (PRBS) cooperating partners. The PRSC-1 is being designed and implemented within a harmonized framework for the provision of budget support in Zambia. This framework comprises a multi-year Performance Assessment Framework (PAF) and a common review process aimed at reducing transaction costs for the GRZ and the cooperating partners.