Sierra Leone - Fiscal consolidation support programme (FCSP)


Project Summary

Approval Date 14 Mar 2019
Signature Date 29 Apr 2019
Planned Completion Date 28 Feb 2021
Last Disbursement Planned Date 28 Feb 2021
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15124
Commitment U.A 15,000,000
Status Completion

Project General Description

The Fiscal Consolidation Support Programme (FCSP) in Sierra Leone aims to support the stabilization of country’s macroeconomic framework and enhance revenue mobilization and public expenditures management. FSCP is a programmatic budget support series spanning two years (2019-2020) intending at the consolidation of the country’s fiscal stance to carry out reforms for strengthening budgeting processes efficiency and transparency; and promoting girl’s education. The programme has two mutually complementary components in order to ensure the effectiveness of public action in terms of the public finance management of the country. These two components are: (i) Improving revenue mobilization and debt management; and (ii) strengthening public expenditure management efficiency and transparency. The total programme cost is UA 15.00 million. Its implementation will provide almost 24% of the financing needs for fiscal year 2019.

Project Objectives

FCSP overarching goal is to spur fiscal consolidation in Sierra Leone through increased resource mobilization, pro-poor budget allocation (especially for basic and secondary schools, and girls education) and strengthened budget execution oversight. In other words, the program’s aim is to support implementation of the public finance management (PFM), revenue management and transparency and public expenditures effectiveness and transparency. The measures supported by the PBO are expected to have a positive impact through increasing public expenditure in line with the NDP priorities and make progress towards economic growth and poverty reduction. More specifically, the program will support key reform measures in two areas aimed at (i) strengthening revenue administration, and (ii) improving effectiveness and transparency of expenditures management.

Beneficiaries

FCSP will benefit the entire Sierra Leonean population. The direct beneficiaries of the program include Ministry of Finance, Ministry of Education; oversight institutions (ASSL, NPPA). Indirect beneficiaries are the citizens of Sierra Leone, who will benefit from better PFM and improved fiscal space for pro-poor budgetary allocation for social services delivery and the private sector for increased transparency in public procurement.

Participating Organization

Funding
Fragile States Facility
Implementing
Ministry of Finance and Economic Develop

Information

IATI identifier 46002-P-SL-KA0-016
Last Update 20 Oct 2020

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Contact Details

Name KAMANGA Fenwick Dingiswayo
Email f.kamanga@afdb.org

Geographic Location

Country Sierra Leone