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| Abstract* last updated: 17-SEP-2008 |
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| The Bank's Guinea Emergency Food Crisis Response Program (GEFCRP) is intended to support the government's poverty reduction strategy by providing the authorities with needed fiscal space to compensate for the lost of revenues resulting from the temporary customs duties reduction on rice imports. The program consists of a Food Crisis Response Development Policy Grant, additional financing to the Third Urban Development Project, and an Emergency Agriculture Productivity Support Project. The grants are being undertaken under the Global Food Crisis Response Program (GFRP), which was endorsed by the Board on May 29, 2008, and will be financed out of the Food Price Crisis Response (FPCR) Trust Fund (TF). The objectives of the GFRP are to: (i) reduce the negative impact of high and volatile food prices on the lives of the poor in a timely way; (ii) support governments in the design of sustainable policies that mitigate the adverse impacts of high and more volatile food prices on poverty while minimizing the creation of long-term market distortions; and (iii) support broad-based growth in productivity and market participation in agriculture to ensure an adequate and sustainable food supply response. This document is composed of three sections: (i) an overview document describing the GEFCRP program including background, context, rationale and a description of the Government and the Bank's response; (ii) the program document for the proposed Food Crisis Response Development Policy Grant; and (iii) the emergency project paper (EPP) for the two proposed investment operations. |
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