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CAR: World Bank pledges 12.5b for economic reforms

https://www.journalducameroun.com/en/car-world-bank-pledges-12-5b-for-economic-reforms/

The World Bank will support the Central African Republic (CAR) with 12.5 billion CFA francs to boost economic reforms in the country, the Ministry of Economy and Planning announced Monday.A Ministry of the Economy press release said the Bank’s aid is part of the project to support state consolidation.

The project aims to restore fiscal management and transparency by increasing tax revenue, improving wage management, reducing the use of extraordinary budgetary procedures and strengthening budget control.

Among its objectives is the establishment of a post-transition pro-poor reform programme that can reinvigorate the drivers of economic growth, in key sectors and sub-sectors such as roads, agriculture and telecommunications.

These reforms can contribute to improving the living conditions of the poorest populations, which represent 40 percent of the distribution of social assistance in the CAR.

These economic reforms are contained in the Recovery and Peacebuilding Plan (RCPCA) that the government presented to its partners in 2016 during its donors’ roundtable in Brussels, Belgium, to receive financial support.