|Approval Date||22 May 2020|
|Signature Date||30 May 2020|
|Planned Completion Date||31 Dec 2020|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
Management submits the following report and recommendation on a proposed 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, to finance the COVID-19 Crisis Response Budget Support Program ( the “Program”). The Program is in response to a request from the RoM dated 18March 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.
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 objectives i) To strengthen health systems ii) To protect livelihoods, income security, and access to essential goods and services;and iii) To build a resilient private sector for economic recovery.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, theProgram 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||19 Oct 2020|
|Name||CHANGE Evelynne Obonyo|