Cote d'Ivoire - Economic and Social Reform Support Programme (PARES) (AFDB-P-CI-KA0-010)

Countries
  • Ivory Coast
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 26, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GOUVERNEMENT DE LA COTE D'IVOIRE MINISTERE DE L'ECONOMIE ET DES FINANCES
The holder of the loan, grant, or other investment.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 43.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported U.A 60,685,503.45
Converted using 2019-11-26 exchange rate.
Bank Documents
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jun 15, 2020


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Project Description

The proposed intervention concerns the grant of an AfDB loan of EURO 75 million to finance the Economic and Social Reform Support Programme (PARES) in the form of a programme support operation (PSO) over the period 2019-2021. The programme seeks to support the Cote d'Ivoire Government's efforts to improve the efficiency and transparency of public spending in favour disadvantaged persons by increasing access to basic social facilities and social inclusion actions. The relevance of the Bank's support through a stand-alone programmatic support operation is justified by the need to bridge the additional financing gap resulting from the government's willingness to address the incidence of poverty which remains high in the country despite the country's economic performance. The programme will consist of two components: (i) support for the efficiency and transparency in public expenditure; and (ii) support for social inclusion reforms. These two components are complementary in order to ensure the efficiency and transparency of public financial management and to implement the necessary social reforms needed for better sharing of the fruits of growth.

The programme's main objective to increase public resources allocation for disadvantaged populations through the strengthening of the efficiency and transparency of public spending in order to improve their access to basic social infrastructure and social inclusion.

PARES will benefit the entire population of Cote d'Ivoire. Activities supported by the programme will directly benefit the people. The activities supported by the program will directly benefit the populations. With regard to the component on improving the efficiency and transparency of public spending, the beneficiaries will be: (i) young people and women through the protection of social spending (health, education, youth employment) etc.) and the allocation of substantial resources to the social sectors; (ii) the private sector, which will benefit from transparency and healthy competition in public procurement. The implementation of redistributive economic policies for vulnerable groups will reduce social inequalities and strengthen social inclusion with a positive impact on labour productivity. Cash transfers to extreme poverty households will positively impact domestic demand.

Investment Description
  • African Development Bank (AFDB)
Contact Information

IBRAHIM Amadou

i.b.amadou@afdb.org

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.