|Approval Date||17 Dec 2021|
|Signature Date||01 Mar 2022|
|Planned Completion Date||30 Dec 2025|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15124|
The Congolese Economic Recovery Support Project (PAREC) is designed to improve fiscal performance and facilitate private sector recovery. It will involve combining fiscal adjustment with structural reforms of the investment climate to release the potential of the private sector and curb the temporary negative effects of the current crisis. The project will support an improvement in the quality of life for the people of Congo, build the capacity of various institutions and staff of the Court of Auditors, the Tax Office, ANAPI and the ministerial units in charge of PPPs. It will also help to stabilize public finances by rationalizing expenditure management in a context of improved resource mobilization. Furthermore, the project will promote transparency, especially in the extractive industry sector, through support to the EITI. Lastly, the project will improve the investment climate by overhauling the business environment. PAREC will mostly seek to consolidate the achievements of previous Bank interventions. It has three complementary components (i) improve budgetary performance and fight corruption, (ii) support economic recovery, and (iii) promote efficient project management.
The project's overall objective is to improve fiscal performance and facilitate economic recovery. PAREC's specific objectives include mobilizing revenue, streamlining public expenditure, improving accountability and fighting corruption as well as improving the investment climate by reforming the investment framework, the regulatory regime, supporting agro-industrial platforms and the special economic zone.
The project's direct beneficiaries are the DGI, DGRAD, DRGC, ANPI, and the Court of Auditors. Its final beneficiaries are the country's population as a whole, but particularly investors and the private sector. They stand to gain from improved domestic resource mobilization, transparency and accountability for effective financing of economic development and improved quality of life for the people. They will also benefit from an improved investment climate and anti-corruption measures.
African Development Fund
GOUVERNEMENT DE REPUBLIQUE DEMOCRATIQUE DU CONGO MINISTERE DES FINANCES BUDGET
|Last Update||07 Dec 2022|
|Country||Congo, the Democratic Republic of the|
|-4.375 15.97||Kinshasa City|