Comoros - The Economic Reform Support and Financial Governance Programme (PAREGF)


Project Summary

Approval Date 15 Jul 2009
Signature Date 22 Jul 2009
Planned Completion Date 15 Jun 2012
Last Disbursement Planned Date 31 Dec 2010
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15110
Commitment U.A 2,000,000
Status Completion

Project General Description

The Economic Reform Support and Financial Governance Programme (PAREGF) falls within the framework of the first pillar of Bank Group’s assistance strategy as defined in CSP-1, 2009-2010. It consists of a budget support programme in the form of a UA 2 million grant disbursed in two equal tranches of 1 million. This project seeks to strengthen capacities in public finance management and in the preparation and monitoring of development policies. Thanks to the reform measures that it comprises, PAREGF should help strengthen the operational capacity of the Finance Departments of the Ministry of Finance, Budget and Planning, and of organs responsible for monitoring the implementation of economic and financial reforms. PAREGF should also be implemented in synergy with the Institutional Capacity Building Project that the Bank should finance in the Comoros. The expected outcomes from implementing this programme include: greater credibility for the government budget, increased transparency of government transactions and public resource management, and, with respect to streamlining of the reform process, preparation of a strategy and action plan, and execution of both after the completion of PAREGF.

Project Objectives

The objective of the Economic Reform Support and Financial Governance Programme (PAREGF) is to help reduce poverty through more effective and efficient public resource management. It aims specifically to: (i) improve public finance management; and (ii) streamline the public finance reform process.

Beneficiaries

Generally, the Comorian people are the main programme beneficiaries, particularly the poorest to whom the government should be able to allocate more resources under poverty reduction programmes thanks to better public resource management. Other beneficiaries include (i) the islands of the Union of the Comoros, which will see improvements in their budget resource management in the wake of different reform measures implemented by financial authorities to improve tax and customs duties collection; (ii) civil servants who, as a result of public finance management consolidation may expect partial payment of their salary arrears; (iii) government financial agencies that will benefit from operational capacity building through the use of computer management tools (ASYCUDA++); and (iv) economic operators whose transactions with the government will be more transparent.

Participating Organization

Funding
Fragile States Facility
Implementing
Economic and Financial Reforms Monitoring Unit in the Ministry of Finance (CREF)
Implementing
Economic and Financial Reforms Monitoring Unit in the Ministry of Finance (CREF)

Information

IATI identifier 46002-P-KM-KA0-001
Last Update 31 Oct 2019

Export

Contact Details

Geographic Location

Country Comoros