The AfDB Supports Reforms in Burundi
Tunis, 25 November 2008 - The African Development Bank (AfDB) Group Board of Directors has approved a Grant of 14 million Units of Account (UA)*, equivalent to US$ 20.8 million, to help finance Burundi’s Second Economic Reform Support Programme (ERSP-II).
The funding, approved by the Board in Tunis on Tuesday, comprises a grant of UA12 million from the "Fragile States Facility" (FSF) of the African Development Fund, the concessionary window of the Bank Group, and an AfDB grant of UA 2 million within the framework of the "Bank’s Response to the Food Crisis".
The implementation of the Programme will enhance the administration’s effectiveness and efficiency in the design, formulation, implementation and monitoring-evaluation of socioeconomic development programmes. It will also contribute to strengthening good public finance governance and reinforcing the institutions, which is essential for getting the country out of its situation of fragility on a sustainable basis.
The ERSP-II, which covers the 2008- 2009 period, is a follow-up on previous support operations by the Bank (PAREG and ERSP-I). This Programme falls within the Growth and Poverty Reduction Strategic Framework (GPRSF) as well as the Bank’s intervention strategy in Burundi for the 2008-2011 period.
It takes into account the Bank’s strategic orientations on governance, its Fragile States initiative and the interventions of other donors. The programme was designed and will be implemented in close collaboration with donors within the Budget Support Partnership Framework.
Bank Group operations started in Burundi in 1974. To date, the institution’s cumulative commitment in the country stands at US$ 423.2 million for 56 operations.
* 1 UA = US$ 1.48830 as at 119/11/2008
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