| Project Detail |
PAMRDI-I is the first phase of a series of two programme-based budget support operations, covering fiscal years 2023 and 2024, with an indicative overall financing package of EUR 149 million (equivalent to UA 120 million). It presents the programmes multi-annual framework, with a list of reforms considered to be the indicative triggers for the second phase (PAMRDI II). The programme will help to achieve the following objectives: (i) an increase in the number of economic operators in the informal sector with entrepreneur status (from 0 in 2022 to 30,000 in 2024, of whom 30% are women); (ii) an increase in the share of the manufacturing sector in GDP (from 15.6% in 2021 to 17.6% in 2024); and an increase in the share of the manufacturing sector in the added value of industry (88.7% in 2021 to 89.3% in 2024). PAMRDI is a programme-based general budget support operation in two phases. The programme has two complementary components: (i) Component 1 - Mobilise domestic resources and broaden the tax base; (ii) Component 2 - Support economic resilience by implementing reforms to speed up industrial development. Project Objectives The overall objective of the programme is to consolidate and scale up the outcomes of the Banks previous and current support, that is, to strengthen domestic resource mobilisation and promote strategic reforms to attract private investment with a view to industrial development in Senegal. The programme has five specific objectives that are to (i) broaden the tax base; (ii) improve efficiency in the control and collection of taxes; (iii) make the country more attractive to private investment; (iv) promote the private sector and its formalisation; (v) and strengthen industrial competitiveness. Beneficiaries The direct beneficiary of PAMRDI-I is the Government of Senegal, although it will benefit the entire Senegalese population. The programme will help to improve the countrys macroeconomic and financial framework by increasing the mobilisation of domestic resources, which will rise from 17.9% of GDP in 2022 to 19.4% in 2024. In fact, a more efficient tax administration, thanks to digitisation, should reduce transaction costs for individuals and companies filing tax returns. |
