The African Development Bank Group (AfDB) is providing budget support to the Central African Republic as planned in its treasury plan.
It is in this dynamic that the Central African Minister of Economy, Planning and Cooperation, Governor of the Bank Felix Moloua and AfDB Country Manager for the Caribbean, Joel Sibaye Tokindang, signed the February 5 2018 in Bangui, a grant agreement of approximately 10,2 million US dollars to finance the second phase of the Support Program for Economic and Financial Reforms (PAREF II).
Signed in the presence of the representatives of the financial partners in CAR and several senior executives of the Central African Administration, this programmatic budget support will contribute to the improvement of the management of public finances and the revival of economic growth which is one of the priorities of the Central African Republic. National Plan of Recovery and Consolidation of Peace for the Central African Republic (RCPCA) adopted in October 2016.
Specifically, this support aims at improving the collection of tax revenues; transparency and the rate of budget execution (especially in the social sectors) and consolidate economic growth by improving the business climate and governance in productive sectors such as agriculture, forestry and mining.
This operation, which is fully consistent with the Bank’s High 5, was designed in collaboration with other development partners and will also facilitate the smooth implementation of the program financed by the IMF’s Extended Credit Facility (IMF). ).
Speaking on this occasion, Felix Moloua welcomed this grant agreement (budget support) which will enable the country to cope with the current budgetary tensions, welcoming the excellent cooperation between the African Development Bank Group and the Central African Republic.
