IDA Credit: US$74.7 million equivalent
Terms: Maturity = 20 years; Grace = 10 years
Project ID: P121220
Project Description: The project supports the Government's program to tackle its difficult fiscal situation in the short run, and to launch a number of structural reforms that will pay off in the medium to long run. Specifically, the operation supports four areas that are central to the reform program: (i) tax reform, including closing tax loopholes, widening some tax bases, and improving tax administration; (ii) civil service reform, focused on human resource management in the education sector and a rationalization of the public wage bill; (iii) reform of power sector tariffs to support the financial sustainability of the state-owned electricity company; and (iv) strengthening public financial management and transparency by resolving outstanding public sector arrears and investigating the shortcomings of the financial management information system.
