| Project Detail |
Management submits the following proposal and recommendation concerning the award of a grant of UA 8 million from the resources of the African Development Fund (ADF) to the Central African Republic to finance Phase II of the Programme dAppui à la Consolidation des Réformes Economiques et Sociales (PACRES). The operation proposed for 2024 (8 MUC) is the second phase (Phase II) of a programmatic operation resulting from a multi-year program launched in its first phase (Phase I) in 2023 (7.5 MUC). The operation is designed to respond to a request submitted on March 3, 2023 by the Government in the context of socio-political and economic shocks that have led to a drop in the States financial resources and negatively impacted the living conditions of the population. In response to this request, the Bank proposed a two-phase programmatic budget support operation. Approval for an amount of 8MUC is sought for phase II for the year 2024, in order to consolidate the various reforms undertaken to mobilize internal resources and improve the provision of basic social services.
Project Objectives
The programme’s overall goal is to enhance economic governance and mitigate the social crisis by supporting public finance management reforms and helping to preserve human capital. More specifically, the programme seeks to consolidate the budget by increasing tax revenues and strengthening budget transparency and citizen control.
Beneficiaries
The programs beneficiaries remain unchanged. PACRES will benefit the countrys entire population. Indeed, increased tax efficiency in favor of greater resource mobilization, coupled with greater transparency in the management of public expenditure, is likely to free up budgetary space to increase the resources allocated to social services, thereby improving the living conditions of the population, particularly women and girls. |
