| Project Detail |
This intervention concerns the supplementary financing of the Competitiveness and Economic Recovery Support Programme (CERSP). This effectively forming the third phase of the CERSP programme (CERSP III), covering fiscal years from 2021/22 to 2023/24. The proposed supplementary financing is designed to ensure proper sequencing and build on the achievements of CERSP I and II. It also aims to support the new government to further strengthen economic resilience across several areas. The key outputs of the CERSP-III are (i) E-Government procurement rolled out; (ii) PFM amendment bill, 2023 approved by cabinet; (iii) oversight of state-corporations improved through approval of ownership policy; (iv) Privatization bill, 2023 approved by cabinet; (v) the enhanced single registry for social protection rolled out to 29 counties; and (vi) social protection policy approved by cabinet. The programme will continue supporting Kenya’s medium to long term development agenda through three components as follows: (i) Fiscal consolidation to attain fiscal sustainability; (ii) Strengthening industrial development and competitiveness; and (iii) Enhancing economic and social inclusion. Project Objectives The overarching development objective of CERSP-III is to strengthen resilience and support inclusive post-COVID-19 pandemic economic recovery through improved economic governance and enhanced industrial development and competitiveness. |
