Supplementary Support to the Public Financial Management Reform Support Programme (PFMRSP)
Overview
- Reference: P-LR-K00-011
- Approval date: 27/05/2009
- Start date: 02/06/2009
- Appraisal Date:
- Status: OngoingOnGo
- Implementing Agency:
- Location:
Benefits
The proposed Supplementary Support to the PFMRSP I will make available, under the FSF Supplemental Support Window (Pillar I), UA 3.386 million in a single tranche as a grant. These resources would be disbursed together with the second tranche (UA 4 million) under the PFMRSP I. Within six months of that disbursement, a Project Completion Report will be prepared.
Supplementary Support to the PFMRSP I would create immediate fiscal space in a dire situation. First and foremost, it would help counteract the impact of the ongoing international economic crisis, which was not anticipated when the PFMRSP I was designed in 2008. Secondly, it would help strengthen and consolidate implementation of reforms that have been undertaken since 2008 under the government's reform programmes. And thirdly, given that the Bank has taken the lead within the small group of development partners providing budget support to Liberia, the Supplementary Support would allow the Bank to demonstrate again to the donor community its proactive stance in assisting the authorities during the current crisis.
The request for a waiver should be viewed in the context of the government's otherwise very strong record of performance under the PFMRSP I. It is made with an appeal for the urgent release of the second tranche disbursement so as to mitigate the impact of the disruption in resources, resulting from the international economic crisis. This would allow smoothing revenue flows, thus aiding in the full execution of the current fiscal year budget maintaining the government's reform efforts.
Key contacts
GEBRE-SELASSIE Kalay - OSGE1
Costs
| Finance source | Amount |
|---|---|
| Co-financier | UAC 3,386,000 |
| Total | UAC 3,386,000 |
