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Guinea - Economic and Financial Reform Support Programme (Phase Three)
Management hereby submits this proposal and recommendation to award a loan of UA 2.42 (two million four hundred and twenty thousand Units of Account) and a grant of UA 1.12 million (one million one hundred and twenty thousand Units of Account) from the resources of the Transition Support Facility (TSF)a loan of UA 2.9 million (two million nine hundred thousand Units of Account) and a grant of UA 4.08 million (four million and eighty thousand Units of Account) from the resources of the African Development Fund (ADF), to the Republic of Guinea to finance the Economic and Financial Reform Support Programme, Phase III(PAREF III). PAREF III was designed as a series of two operations constituting a programme-based budget support over the 2016-2017 period. It covers these two fiscal years with a total indicative financing envelop of UA 20.52 million (UA 10.52 million in 2016 and UA 10 million in 2017). It will build on the gains of the two previous phases of the programme. PAREF III is linked to the first two pillars of the Poverty Reduction Strategy 2013-2015, namely: (i) governance and capacity building; and (ii) acceleration, diversification and sustainable growth. It is also linked to the 2015-2017 Post-Ebola Socio-economic Recovery and Resilience Strategy in the economic (industry, SMEs and mining), social (support to the economic empowerment of women) and governance sectors (public finances with fiscal and customs components). The programme’s design was informed by good practice principles for the application of conditionality.