THIRD POVERTY REDUCTION SUPPORT CREDIT

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The proposed Poverty Reduction Support Credit (PRSC-3) will assist the Government of Benin in implementing its Poverty Reduction Strategy, launched in December 2002. PRSC series are an integral part of the Bank's Country Assistance Strategy (CAS). PRSC-1 aimed to: (i) help create the basis for private-sector-led economic growth by supporting the Government's macroeconomic program; (ii) support the Government of Benin's public expenditure management reform program; and (iii) support the reform of the public resources management in key sectors, including Health, Education and Water, focusing on the delivery of basic services tailored to the needs of the poor. PRSC2 expanded the coverage to three new sectors (Agriculture, Rural Transportation and Justice), while supporting continued implementation of the Environment and Urban Sanitation and the Forest Management programs as well as re-launching reforms in civil service and decentralization. As a follow-up to PRSC-2, PRSC-3 will maintain a core focus on economic growth and governance, supporting service delivery through improved public expenditure management, financial decentralization, and expanding results-oriented budgeting to new sectors.