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Central African Republic - Second Consolidation and Social Inclusion Development Program (English)

The Second Consolidation and Social Inclusion Development Program (CSIDP 2) supports the Government of the Central African Republic (CAR) as it implements structural reforms designed to continue the consolidation of fiscal management and to support social inclusion. The proposed operation in the amount of US$50 million equivalent is the second in a programmatic series of two IDA grants. The Program is aligned with the Government’s economic recovery, poverty reduction and structural reform priorities, as set forth in the National Recovery and Peace Building Plan (RCPCA) for 2017-2023 and other key strategic documents. The operation is aligned with both the World Bank Group (WBG) Country Partnership Framework (CPF) 2020-2025 for CAR (in preparation), the WBG strategy on fragility, conflict, and violence (FCV) and the WBG twin goals of boosting shared prosperity and ending extreme poverty. Significant budget support from the proposed operation and other development partners will contribute to closing the financing gap in 2020. COVID-19 has widened the financing need (including grants) in 2020 to CFAF 128.1 billion, about US216.5 million dollars or 9.4 percent of GDP. Through the program and the Supplemental Financing of the previous operation in the series (CSIDP 1), the World Bank is providing US75 million dollars (3.3 percent of GDP). Through an Extended Credit Facility (ECF) and a Rapid Credit Facility (RCF), approved in December 2019 and April 2020, respectively, the IMF expects to provide US87.2 million dollars (3.8 percent of GDP). The African Development Bank (AfDB), the European Union (EU), and France are expected to provide US47 million dollars (2 percent of GDP). Debt service relief under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT) and the G20 Debt Service Suspension Initiative (DSSI) for Poorest Countries contribute to closing the residual financing gap.

Details

  • Document Date

    2020/08/05

  • Document Type

    Program Document

  • Report Number

    PGD120

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Central African Republic,

  • Region

    Africa West,

  • Disclosure Date

    2020/09/04

  • Disclosure Status

    Disclosed

  • Board Meeting Date

    2020-09-01T00:00:00Z

  • Doc Name

    Central African Republic - Second Consolidation and Social Inclusion Development Program

  • Keywords

    social inclusion; poverty and social impact; Fragility, Conflict, and Violence; access to social protection; state-owned enterprise; information and communication technology; Grievance Redress Service; heavily indebted poor country; social safety net program; gross fixed capital formation; decline in tax revenue; monetary and financial stability; open market interest rate; access to potable water; Health System Strengthening; access to basic service; types of tax revenues; efficiency of tax administration; million people; international poverty line; current account balance; primary school teacher; macroeconomic policy framework; water distribution company; current account deficit; nationally determine contribution; foreign direct investment; baseline scenario; downside scenario; peace agreement; climate co-benefits; payment of tax; drugs and supplies; Public Health Emergency; public sector specialist; long-term climate change; debt service relief; national health system; movement of people; Public Financial Management; Gender-Based Violence; cash transfer program; import of goods; risk of debt; risk of distress; construction and rehabilitation; public expenditure need; access to water; international supply chain; monetary policy operation; people with disability; Internally Displaced People; global economic growth; wages and salary; tax on profits; taxes on goods; export of goods; monetary accounts; lack of infrastructure; weak legal framework; public sector debt; ratio of debt; balance of payment; main trade route; parties in conflict; central government control; conflict and violence; cycle of violence; private sector support; digital governance; exchange rate; domestic revenue mobilization; summary of risks; Exchange Rates; contingent liabilities; economic recovery; global economy; contingent liability; domestic arrears; Fragile Countries; fiscal balance; capital expenditure; confirmed case; fiscal deficit; fiscal management; public debt; Public Spending; financial indicator; extreme poverty; budget support; commodity price; cash basis; other development; financing need; mobile banking; export volume; government spending; Natural Resources; armed groups; humanitarian assistance; response plan; fiscal measure; agricultural sector; external financing; private consumption; fiscal stance; international community; trade balance; informal sector; inflationary pressure; vulnerable household; program leader; security environment; result indicator; internal control

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Citation

Central African Republic - Second Consolidation and Social Inclusion Development Program (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/591141599271227384/Central-African-Republic-Second-Consolidation-and-Social-Inclusion-Development-Program