Sao Tomé - Fiscal Sustainability and Economic Resilience Support Program (FSERSP II)

Management submits the following proposal and recommendation for a Transition Support Facility (TSF) grant amounting to six million Units of Account (UA 6,000,000) to the Democratic Republic of São Tomé and Príncipe (STP) to finance the second phase of the Fiscal Sustainability and Economic Resilience Program (FSERPII). The FSERP was designed as a programmatic series of two consecutive General Budget Support (GBS) operations of UA 4 million in the fiscal year 2023 and UA 6.00 million in the fiscal year 2025 for a total financing of UA 10.00 million. This is the second phase of the two-year series of the Program Based Operation. It follows Board approval of the first phase on 1 December 2023 for an amount of four million UA (UA 4,000,000) and subsequent implementation of the related program measures.