| Project Detail |
The operation is an Institutional Support Project for Customs Administration and Public Expenditure Management (ISP-CAPEM) from the Bank in the Democratic Republic of São Tomé and Principe (STP). It is designed to leverage the Bank’s comparative advantage in supporting economic governance reforms as well as synergies with its other instruments and areas of intervention. As an African institution with a longstanding history of providing advice the Bank is well placed to support the Government’s program of economic governance reforms. Moreover, the Bank will leverage its extensive experience supporting the implementation of economic governance reforms across Africa and in STP, where the Bank has been supporting implementation of various projects including the Institutional Support Project for Economic and Financial Management (Programa de Apoio à Gestão Económica e Financeira, PAGEF) (2013-2020) and the COVID-19 budget support operation in 2020. The project comprises three main components: (a) customs administration modernization and sustainable public debt management; (b) strengthening public expenditure management; and (c) Project management. The project is designed in parallel to help achieve the objectives of the new National Development Plan (NDP).
Project Objectives
The overarching development objective of the project is to improve revenue collection and strengthen capacity in public expenditure management through modernized customs administration, efficient borrowing framework, robust financial management information systems, transparent public procurement, and oversight. This will be done through (a) customs administration modernization and sustainable public debt management aimed at increasing collection of trade revenue, improving efficiency and effectiveness in controlling legitimate trade operation, and sustainable borrowing ; and (b) strengthening public expenditure management and oversight through development of an integrated financial management information system, enhancing transparency and accountability in the use of public resources, and combatting illicit financial flows. |
