|Approval Date||19 Nov 2021|
|Signature Date||21 Dec 2021|
|Planned Completion Date||31 Dec 2022|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||15124|
The proposed intervention is a EUR 30,220,000 AfDB loan to finance the Economic and Social Reform Support Programme – Phase II (PARES II) which is the second phase of a programme-based operation (PBO). PARES is a programme-based budget support operation covering the period 2019-2022 which will contribute to closing part of the financing gap caused by the implementation of public investments to reduce poverty and inequalities. PARES II will support and consolidate economic and social reforms aimed at ensuring a significant impact on the living conditions of households, especially those in extreme poverty. The second phase of the programme, which was initially planned for 2020, was postponed to 2021 and the programme extended to 2022 due to the COVID-19 pandemic health crisis and the reprogramming of budget support resources for the implementation of the health response and the Economic, Social and Humanitarian Support Plan (PESH). PARES II two components as specified below are identical to the initial programme ones (PARES I), are complementary and will help to enhance the efficiency and transparency of public financial management and to implement the social reforms needed for better sharing of the fruits of growth. Specifically, the two components are: (i) support to effectiveness and transparency of public expenditures; and (ii) support to social inclusion reforms. The outcome indicators to be assessed after the closure of PARES are presented in detail in the Results-Based Logical Framework.
The program aims to improve the effectiveness and transparency of public spending in favor of disadvantaged social groups by strengthening access to basic social infrastructure and social inclusion actions.
PARES – Phase II will benefit the entire population of Côte d’Ivoire. Activities supported by the programme will directly benefit the people. Specifically, the component on the improvement of public spending effectiveness and transparency will benefit: (i) young people and women through the protection of social expenditure (health, education, youth employment, etc.) and the allocation of substantial resources to social sectors (more than 45% of resources allocated for pro-poor spending); and (ii) the private sector which will benefit from transparency and fair competition in public procurement. The implementation of redistributive economic policies in favour of vulnerable groups will help reduce social inequalities and strengthen social inclusion with a positive impact on labour productivity. Cash transfers to households (with more than 250,000 households registered in 2022) living in extreme poverty will have a positive impact on domestic demand.
African Development Bank
GOUVERNEMENT DE LA COTE D'IVOIRE MINISTERE DE L'ECONOMIE ET DES FINANCES
|Last Update||16 May 2022|