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Burkina Faso - Fifth Poverty Reduction Support Operation Credit Project (English)

The Fifth Poverty Reduction Support Operation (PRSC-5) Project supports the implementation of the revised Poverty Reduction Strategy Paper (PRSP) for the period 2004-2006. The revised PRSP has four strategic pillars: a) accelerating broad-based growth; b) promoting access to social services; c) increasing employment and income-generating activities for the poor; and, d) promoting good governance. As did the previous operations in the series, PRSC-5 supports the PRSP implementation under three components consistent with these four pillars: 1) growth and employment creation; 2) human resource development; and, 3) good governance. Under the growth and employment creation component, the PRSC-5 supports reforms in the cotton, rural sector, telecommunication sector, energy sector, and the labor market. The objective is to lower factor costs, increase productivity and favor new investments. The second component includes policies in the education, health, social protection, and water sectors to build infrastructure, lower the cost of services, and improve service quality. The third component encompasses policy measures to strengthen budget formulation, execution, procurement, and control, public sector performance, decentralization, and environmental management. The proposed operation is an integral part o f the Bank's strategy presented in the 2000 CAS, and updated in the 2003 CAS progress report. However, risks for the operation arise from the country's weak institutional capacity, still fragile fiduciary progress, natural disasters (drought, locust invasions), commodity prices and currency shocks, and regional instability. The different risks are mitigated under the credit through the approval of two Bank projects to address the institutional capacity issue; the integration in the reform program of key fiduciary reforms; the approval of a project to help prevent and fight locust invasion, and Bank readiness to provide further financial support when needed; a strong track record of the government in adapting to external shocks, through adjustment of non-priority expenditure; an independent monetary policy with a strong record of low inflation; the willingness of the external community to deliver additional credit as needed; and, regional initiatives to solve the political crisis in Cote d'Ivoire.

Details

  • Document Date

    2005/04/07

  • Document Type

    Program Document

  • Report Number

    31342

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Burkina Faso,

  • Region

    Africa,

  • Disclosure Date

    2005/05/09

  • Disclosure Status

    Disclosed

  • Doc Name

    Burkina Faso - Fifth Poverty Reduction Support Operation Credit Project

  • Keywords

    debt to export ratio;social and economic development;cotton sector;Assessment and Action Plan;weights and measure;Treasury and Public Accounts;real effective exchange rate;access to safe water;good governance;public sector capacity building;tax and customs administration;achievement of program objectives;infant and child mortality;life expectancy at birth;access to potable water;high oil price;Exchange Rates;current account deficit;public sector performance;human resource development;per capita income;high growth rate;terms of trade;basic education development;basic social service;international cotton price;poverty headcount;rural area;real gdp;monetary policy;macroeconomic framework;employment creation;external shock;adverse shock;debt relief;private capital inflow;external debt indicator;health and nutrition;natural resource base;Public Finance Management;international oil price;population growth rate;consumer price index;independent monetary policy;income generating activity;prudent financial management;hiv prevalence rate;Country Assistance Strategies;economic reform program;support to producer;country assistance strategy;low school enrolment;public investment program;primarily due;performance based contract;national education budget;commodity price shock;area of governance;application of law;budget execution report;public expenditure reform;fixed exchange rate;adverse external shocks;primary health service;absolute mortality rates;reduction in poverty;infant mortality rate;net domestic assets;net foreign asset;national poverty line;country case study;social and institutional;domestic producer price;impact on poverty;real growth rate;square poverty gap;poverty gap measure;

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Citation

Burkina Faso - Fifth Poverty Reduction Support Operation Credit Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/185641468017055430/Burkina-Faso-Fifth-Poverty-Reduction-Support-Operation-Credit-Project