Consultation closed on August 10, 2011.
The African Development Bank (AfDB) Group is inviting comments on its Draft Policy on Program-Based Operations (PBOs) to encourage its stakeholders to provide feedback and input.
- Background: Reviews of the Bank’s use of Program-Based Operations to support policy reforms and to finance priority expenditures in its Regional Member Countries (RMCs) have highlighted the complexity of existing procedures and guidelines on policy-based operation instruments. These reviews underscore the need for a new and consolidated policy to replace the old procedures and guidelines. A commitment was therefore made to the African Development Fund (ADF) Deputies during the negotiations for the Twelfth Replenishment of the ADF that a comprehensive new policy for PBOs would be prepared to consolidate existing good practice and streamline requirements. The development of this policy for PBOs was also included in the matrix of Institutional Reforms which were part of the commitments within the framework of the Sixth General Capital Increase (GCI-6).
- Rationale: The rationale of this Policy is twofold: (a) to consolidate and streamline the existing policies relating to PBOs, and (b) to improve the Bank Group’s approach on PBOs in order to improve the efficiency and effectiveness of PBOs in achieving results and to make the Bank more responsive to the needs and requirements of its RMCs.
- This Policy is part of a two pronged-process which includes: (i) the preparation of the Policy, and (ii) its Implementation Guidelines (to be completed following approval of the Policy). The Policy and the Implementation Guidelines will supersede the existing procedures and guidelines on PBOs, unless otherwise indicated.
- Your Participation: The AfDB Group values broad consultation and therefore encourages all stakeholders to provide inputs and comments on this consultative Draft Policy.