| Approval Date | 14 Mar 2019 |
| Signature Date | 29 Apr 2019 |
| Planned Completion Date | 28 Feb 2021 |
| Sovereign / Non-Sovereign | Sovereign |
| Sector | Multi-Sector |
| DAC Sector Code | 15124 |
| Commitment | U.A 15,000,000 |
| Status | Implementation |
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.
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.
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.
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Funding
Fragile States Facility
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Implementing
Ministry of Finance and Economic Develop
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| IATI identifier | 46002-P-SL-KA0-016 |
| Last Update | 12 May 2021 |
| Name | KAMANGA Fenwick Dingiswayo |
| f.kamanga@afdb.org |
| Country | Sierra Leone |