Contacts: In Washington: Herbert Boh +1 (202) 473-3548 hboh@worldbank.org In Bamako: Moussa Diarra (223) 222 22 83 mdiarra@worldbank.org Washington, February 5, 2008 – The World Bank's Board of Executive Directors today approved International Development Association (IDA) funding in the amount of US$42 million for Mali's Second Poverty Reduction Support Credit (PRSC II). "We hope that with continued implementation of the reforms already under way, which the Government has pledged to continue, Mali with improve further its public management performance and effectiveness, to the benefit of its people”, said Agnès Soucat, World Bank Task Team Leader of the project. The PRSC II is the second in a series of operations to support implementation of Mali's Growth and Poverty Reduction Strategy Paper (GPRSP), and focuses on maintaining a stable macroeconomic framework, improving the overall management of public expenditure, and expanding access to basic social services, with a view to achieving the Millennium Development Goals (MDGs). With regard to this agenda, the PRSC II continues and deepens support to the Government of Mali while implementing the next steps of the reform program that it is supporting, which includes: (a) strengthening the links between the GPRSP and the macroeconomic and budgetary structures, with emphasis being placed on results-based budgeting and strengthening public financing management, including procurement; (b) improving the business climate and creating a solid foundation for private-sector-led growth, through the financial and private sectors, the facilitation of transport and transit, electricity, cotton, and irrigation in the Office du Niger zone; and (c) strengthening orientation toward sectoral Medium-Term Expenditure Framework (MTEF) results, particularly in the areas of health, sanitation, and rural water supply, and strengthening the links between MTEF priorities. The PRSC II is an integral part of the Country Assistance Strategy (CAS). In recent years, Mali's economic performance has been sound and it has, in broad terms, achieved solid macroeconomic stability; poverty has declined significantly and health and education social indicators have improved, as evidenced by the fact that school enrollment in the country is increasing; infant mortality has declined and the upward trend in the HIV/AIDS pandemic figures has been reversed. Access to water has also increased and progress had been made in the area of governance. The PRSC II will strengthen this progress and will continue the reform program, focusing on improving the investment climate as well as growth and expanded coverage of essential services in order to expedite progress toward achievement of the MDGs. This operation is temporary in nature and is aimed at establishing the phase for deepening the reform program and strengthening results-based structures, so that they can be fully established when the new PRSC phase is launched in 2009. ### For more information on the World Bank's activities in Sub-Saharan Africa, please visit: www.worldbank.org/africa For more information on the World Bank's activities in Mali, please visit: www.worldbank.org/mali For more information on the project, visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=362183&menuPK=362217&Projectid=P103466 |
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