|Approval Date||26 Nov 2019|
|Signature Date||02 Dec 2019|
|Planned Completion Date||31 Dec 2020|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15124|
The proposed intervention concerns the grant of an AfDB loan of EURO 75 million to finance the Economic and Social Reform Support Programme (PARES) in the form of a programme support operation (PSO) over the period 2019-2021. The programme seeks to support the Côte d'Ivoire Government's efforts to improve the efficiency and transparency of public spending in favour disadvantaged persons by increasing access to basic social facilities and social inclusion actions. The relevance of the Bank's support through a stand-alone programmatic support operation is justified by the need to bridge the additional financing gap resulting from the government's willingness to address the incidence of poverty which remains high in the country despite the country's economic performance. The programme will consist of two components: (i) support for the efficiency and transparency in public expenditure; and (ii) support for social inclusion reforms. These two components are complementary in order to ensure the efficiency and transparency of public financial management and to implement the necessary social reforms needed for better sharing of the fruits of growth.
The programme’s main objective to increase public resources allocation for disadvantaged populations through the strengthening of the efficiency and transparency of public spending in order to improve their access to basic social infrastructure and social inclusion.
PARES will benefit the entire population of Côte d’Ivoire. Activities supported by the programme will directly benefit the people. The activities supported by the program will directly benefit the populations. With regard to the component on improving the efficiency and transparency of public spending, the beneficiaries will be: (i) young people and women through the protection of social spending (health, education, youth employment) etc.) and the allocation of substantial resources to the social sectors; (ii) the private sector, which will benefit from transparency and healthy competition in public procurement. The implementation of redistributive economic policies for vulnerable groups will reduce social inequalities and strengthen social inclusion with a positive impact on labour productivity. Cash transfers to extreme poverty households will positively impact domestic demand.
African Development Bank
GOUVERNEMENT DE LA COTE D'IVOIRE MINISTERE DE L'ECONOMIE ET DES FINANCES
|Last Update||08 Jul 2020|