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PRESS RELEASE May 6, 2019

World Bank Approves $100 million to Support Fiscal Consolidation and Social Inclusion in the Central African Republic

WASHINGTON, May 6, 2019 --The World Bank Board of Executive Directors today approved a $100 million grant from the International Development Association (IDA)* to finance the first phase of the Consolidation and Social Inclusion Development Program (CSIDP) in the Central African Republic.

“Fiscal consolidation and social inclusion are necessary in order to preserve the positive results of the National Recovery and Peacebuilding Plan (RCPCA) and to help the Government strengthen its presence and authority across the country,” said Jean-Christophe Carret, World Bank Country Director for the Central African Republic.

The CSIDP, which is composed of two phases, includes two pillars. The first pillar aims to reduce the use of exceptional spending procedures, enhance transparency in public finance management, increase fiscal revenue, expedite the deployment of civil servants, and strengthen governance of enterprises. The second pillar seeks to improve social protection as well as health and education services.

“In addition to stimulating key sectors of the economy, it will provide additional resources for the social sectors through increasing domestic revenue and controlling public expenditure,” said Michel Ragnvald Maellberg, Task Team Leader of the project.

By the end of the program, the total number of beneficiaries of free health care is projected to exceed 500,000 and an improved teacher recruitment process is expected to increase access to education for more than 150,000 children.

*The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to 1.5 billion people. Since its inception, IDA has supported development work in 113 countries. Annual commitments have averaged around $18 billion over the past three years, with about 54 percent going to Africa.


PRESS RELEASE NO: 2019/078/AFR

Contacts

Bangui
Franck Bitemo
(236) 21 61 61 68
fbitemo@worldbank.org
Washington
Aby Toure
(202) 473-8302
akonate@worldbank.org
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