WASHINGTON, June 3, 2010 - The World Bank will continue its support to the implementation of the Growth and Poverty Reduction Strategy Framework (2007-11), while helping Mali weather the lingering effects of the food and global crisis, through a budget support credit in the amount of SDR 46.5 million (US$70.5 million equivalent), including SDR 10.3 million (US$15.5 million equivalent) from the Crisis Response Window.
This International Development Association (IDA) credit approved by the World Bank’s Executive Board today is the Fourth Poverty Reduction Support Credit (PRSC-4) and is the second of a programmatic series of three annual budgetary supports (PRSC 3, 4 and 5).
The operation focuses on reforms to strengthen public financial management and improve access to basic social services, while enhancing the regulatory and institutional framework for infrastructure and private investment. The reform program supported by this operation continues and deepens the agenda introduced by PRSC-3, with an increased focus on social service delivery.
“The credit supports critical Government owned reforms to improve the policy environment for infrastructure and private investment, with a particular emphasis on actions to ensure a smooth transition to private ownership in the cotton sector, and to strengthen transparency and accountability practices in the mining sector,” said Clara de Sousa, the Bank’s Task Team Leader.
This operation also supports measures to strengthen public financial management, through strengthened budget reporting and accountability. Furthermore, it supports efforts to enhance basic social service delivery, including by strengthening the management of human resources, improving budget management at local level while supporting actions to increase the use of health services by the poor, de Sousa added.
The operation is an integral part of the Bank’s Country Assistance Strategy (CAS) for Mali discussed by the Board of Executive Directors on February 5, 2008.
The operation was prepared in coordination with other donors from the Joint Budget Support Group. Consultations included representatives of the civil society, notably business organizations, community level health associations, local authorities and women’s groups. These consultations ensure Government and country ownership of the supported policies and harmonize donors around a common set of key reforms.