ADF Funds Mali’s 4th Structural Adjustment Programme
Tunis, 12 December 2005 – In its 4th Structural Adjustment Programme (SAP IV), Mali is focusing on the consolidation of the bases of growth and competitiveness by strengthening macro-economic and financial stability, diversification of growth sources, rehabilitation of the agriculture and agro-processing sub-sectors and improvement of the business climate.
The African Development Fund will help the Malian government meet these goals with a loan of 35 million Units of Account* (US$ 51 million or CFA 27.6 billion) meant to support Mali’s balance of payments. The loan was approved today by the Board of Directors of the ADF.
SAP IV is underpinned by strengthening the bases for growth and competitiveness of the economy, the agricultural sector in particular,
Project Brief- Sources of financing: ADF, IMF, IDA, EU, bilateral partners - Estimated start-up date and duration: December 2005, 2 years - Executing Agency: Interministerial Monitoring Committe - Consultancy Services: Consultancy services are required for the cotton sector reforms, the preparation of sectoral MTEFs, the PRSP review, revisiting texts in order to strengthen the Audit Division of the Supreme Court and harmonising procedures used by development partners.
with emphasis on the cotton and rice sectors as well as on other agro-processing sub-sectors. It will also put emphasis on improving the efficiency and effectiveness of basic services through the rationalization and deconcentration of public expenditures, using the medium-term expenditure framework (MTEF) of the sectors as a benchmark. SAP IV will also seek to improve governance by operationalising the institutional development programme through public administration modernization, consolidating the public sector/private sector consultation framework, ensuring the effective transfer of competence and resources to the grassroots and reinforcing control.
Mali’s financing gap for 2005-2007 amounts to CFAF 137.10 billion (US$ 249.70 million) and will be covered by the IMF (US$ 11.59 million), the IDA (US$ 75 million), grants awarded by the EU (US$ 47.79 million), bilateral partners (US$ 64.52 million) and the ADF (US$ 50.81 million).
The African Development Bank Group operations in Mali started in 1970. To date, its commitments stand at CFA 500 billion in 86 operations.
* 1 UA = 1,42414 US$ = 793.754 CFA as at 01/12/2005