According to the bank, yhis program document presents the first operation in a programmatic series of two Development Policy Credits (DPC) for Grenada. The First Fiscal Resilience and Blue Growth Development Policy Credit, in the amount of US$30 million, supports the implementation of policy and institutional reforms set out in the Government’s long-term development strategy, the New Economy Plan (NEP), the Growth and Poverty Reduction Strategy (GPRS) for 2014-18, and Grenada’s Blue Growth and Coastal Master Plan. The Government’s programs prioritize fiscal sustainability, strengthening resilience against natural disasters, and harnessing the ‘blue economy’ as a way to fuel sustainable growth. This DPC series supports key aspects of that broad program. This DPC series supports a more comprehensive approach to strengthen sustainability and resilience in the context of a small island state.
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