Tenth Poverty Reduction Support Credit

closed

Closed

The development objective for the Tenth Poverty Reduction Support Credit Project for Benin is to boost real economic growth, reduce poverty and increase opportunities for equitable growth. The PRSC-10 will focus its support on two critical objectives: (i) Promoting good governance and high-quality public financial management; and (ii) Strengthening private-sector competitiveness. The first objective of the proposed operation supports specific measures to improve PFM in the context of a broader effort to promote good governance and public-sector accountability. The second objective of the proposed operation supports measures aimed at strengthening private-sector competitiveness. The operation will directly support implementation of the SCRP III by focusing on the Government’s stated priorities and building on past PRSC operations. The objectives of this credit are in line and build off of Benin’s current Growth for Poverty Reduction Strategy which include five main pillars. Pillar 1 (Accelerating Economic Growth) is a response to Benin’s low economic growth rate. Authorities are accelerating reforms to improve the business and investment climate. Pillar 2 (Infrastructure Development) identifies five priority types, which include: (i) transportation infrastructure; (ii) energy; (iii) information and communication technology; (iv) water and sanitation; and (v) housing and urban development. Pillar 3 (Strengthening Human Capital and Social Protection) recognizes the need to strengthen human capital not only as a matter of public welfare, but also as a fundamental prerequisite for sustaining medium- and long-term economic growth. Pillar 4 (Promoting Good Governance) the governments’ commitment to good governance and public-sector reform by advancing the country’s reform agenda. Pillar 5 (Fostering Balanced and Sustainable Regional Development) seeks to cultivate local resources and reduce spatial inequalities in the provision of infrastructure and services, through a program of administrative decentralization, targeted regional development, and enhanced environmental protection.

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

World Bank Group

Project

Water Supply and Storage, Raw Materials, Commercial, Government