Poverty Reduction Support Grant (PRSG-8)

closed

This second and final Development Policy Operation (DPO) of a programmatic series of two (PRSC7 and PRSG8) supports the authorities' efforts to consolidate ongoing fiscal stabilization efforts and protect the development objectives set in the Ghana Shared Growth and Development Agenda (GSGDA) for 2010-2013. The GSGDA emphasizes the need for macroeconomic stabilization, greater public sector efficiency and executive transparency and accountability to provide the adequate setting for the reduction of poverty and socio-economic inequalities through agricultural, private sector, infrastructure and human resource development. Specifically, the PRSG8 supports continuing and deepening policy reforms initiated in 2009 to: (i) restore budgetary discipline and financial stability and (ii) foster public sector reform and strengthen sustainability in the energy sector, while (iii) protecting the poor, and (iv) developing the oil and gas institutional framework. The proposed operation is aligned with the World Bank Group's Country Assistance Strategy (CAS) for FY08-121 and with the World Bank's strategy for Africa.