Background |  2005 PRSP  |  Sept 2006 Progress Report on PRSP Background of Poverty Reduction Strategy Papers (PRSP) Poverty Reduction Strategy Papers (PRSP) describe a country's macroeconomic, structural, and social policies and programs to promote growth and reduce poverty, as well as associated external financing needs. PRSPs are prepared by governments through a participatory process that involves civil society and development partners, including the World Bank and the International Monetary Fund (IMF). Poverty Reduction Strategy Papers provide the basis for World Bank and IMF assistance as well as debt relief under the HIPC (Heavily Indebted Poor Countries) Initiative. PRSPs should be country-driven, comprehensive, partnership-oriented, and participatory. A country only needs to write a PRSP every three years; however, changes can be made to the content of a PRSP using an Annual Progress Report. For more information, please refer to the World Bank Povertynet website. Sierra Leone Interim Poverty Reduction Strategy Paper (PRSP) The PRSP provides a good basis for a transition towards sustained long-term development beyond the post-conflict requirements of the war that ended in January 2002. While the full PRSP takes into account government's earlier experiences in implementing the National Recovery Strategy (NRS) and the Interim-PRSP (I-PRSP), it is built primarily upon a number of participatory processes carried out in 2003 and 2004 that reflect the consolidation of peace and the hope for accelerated growth and poverty reduction. Implementation of the PRSP is set to begin in mid-2005. The first annual progress report will be carried out in the third quarter of 2006. The Poverty Reduction Strategy (PRS) provides an adequate framework for reducing poverty in Sierra Leone. The main strengths of the PRSP include: (i) its documentation o f the conclusion o f the post-conflict phase of contemporary Sierra Leone; (ii) the provision of a poverty diagnosis; and (iii) the articulation of a strategy backing a wide-ranging set of policies, aimed at reducing poverty, unemployment and food insecurity as well as progress towards the Millennium Development Goals. The PRSP sets an ambitious policy agenda with an estimated overall cost of US$1.7 billion for 2005-07. The PRS comprises three pillars: (i) Good Governance, Security and Peace Building, (ii) Pro-poor Sustainable Growth for Food Security and Job Creation and (iii) Human Development. The choice of pillars is derived from a number of considerations, including the recent emergence of the country from civil conflict, the status of governance, and the need to invest in key productive sectors. Special attention has been given to food security and employment under pillar two. The main overall objectives include the following: - substantial reductions in poverty, hunger, and unemployment;
- adherence to each of the Millennium Development Goals;
- lasting security; and
- improvements in the quality o f governance.
For more information, please refer below to the Annual Report and to the World Bank Povertynet website. Government of Sierra Leone: Annual Report of the Poverty Reduction Strategy Paper The Government of Sierra Leone adopted the PRSP in June 2005. Nationwide consultative processes ensuring the inclusion of all stakeholders in the form of Participatory Poverty Assessments (PPAs) and Focus Group Discussions (FDGs) were used in formulating the strategy. The results thus reflect the views and aspirations of the people in policy design as well as their experiences in dealing with poverty related issues. The report listed below describes the progress made in implementing the Poverty Reduction Strategy Paper (PRSP) for Sierra Leone from June 2005 to May 2006. Annexes are provided below as well: |
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