|Approval Date||22 May 2020|
|Signature Date||30 May 2020|
|Planned Completion Date||31 Dec 2020|
|Last Disbursement Planned Date||30 Jun 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
The proposed COVID-19 Crisis Response Budget Support Program is in response to a request from the Republic of Mauritius (RoM) dated 18 March 2020 and will be applied for one year, from June 2020 to June 2021. The design of the program considered good practice principles on conditionality. This is a loan to the Republic of Mauritius (RoM) in the amount of EUR 188 million from the COVID-19 Rapid Response Facility (CRF), approved by the board on April 8th, 2020. Indeed, the COVID-19 pandemic is a health crisis which can potentially plunge Mauritius into an economic recession due to its status as a Small Island Developing State (SIDS) and its dependence on Foreign Direct Investment (FDI), travel and tourism. The first three cases of COVID-19 were announced on 18 March 2020 and they were all imported. By 6 April 2020, locally transmitted cases had increased to 133 (54.5% of all cases). The purpose of the Program is to support national measures in response to COVID-19, and mitigate its health, social and economic impacts. It has three mutually reinforcing components (i) Strengthening health systems; (ii) Protecting livelihoods, income security, and access to essential goods and services; (iii) Building a resilient private sector for economic recovery.
The overall goal of the program is to support national measures to contain the spread of COVID-19 and mitigate its health, social and economic impacts. The main outcomes of the program are: improvement in preparedness and response to crisis; support the vulnerable groups and the informal sector by financing social protection schemes; as well as minimizing job losses by boosting the resilience of MSMEs to withstand the COVID-19 crisis and prepare for economic recovery.
The overall beneficiaries of the Program are the people of Mauritius, especially the people in the lowest quintile of the population. In addition to the beneficiaries of wage assistance scheme, workers in the informal sector, and employees facing immediate lay-off and transient poverty risk, the Program will directly benefit several vulnerable people, through the social protection measures. Moreover, the program will also benefit MSMEs whose resilience will be bolstered to withstand the COVID-19 crisis and prepare for economic recovery.
African Development Bank
GOVERNMENT OF MAURITIUS MINISTRY OF FINANCE
|Last Update||01 Dec 2021|
|Name||CHANGE Evelynne Obonyo|