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The World Bank has approved $150 million in funding from the International Development Association (IDA)* to help Benin increase the efficiency of domestic resource mobilization and government spending.
The Economic Governance for Service Delivery Program for Results (PforR) will support actions aimed at increasing the efficiency of domestic resource mobilization and government spending to enable governments to have more resources to finance public services and to withstand shocks. comment. The program aims at more inclusive access to e-declaration and performance-based management in the customs administration. It also aims to make expenditure management and public procurement more efficient and supports the creation of an environment conducive to citizens’ oversight of public finances.
“Benin has made significant progress in improving fiscal governance over the past decade, but further efforts are needed to increase domestic resource mobilization and public spending efficiency,” said Atou Seck, World Bank Country Manager for Benin. “This funding will help scale the results of the reforms implemented to improve tax management, increase domestic revenues and modernize the country’s statistical system.”
Benin still has room to improve domestic resource mobilization compared to its regional peers and its tax base remains narrow. In 2022, Benin’s tax revenue was estimated at 11.5% of gross domestic product (GDP), less than the West African Economic and Monetary Union (WAEMU) average of 12.9%. Further efforts are needed to meet the WAEMU target of 20% of GDP.
This results-based program aligns with the World Bank’s Partnership Framework with Benin. It consolidates the achievements of economic governance reforms and projects supported by the World Bank in Benin in recent years.
* The International Development Association (IDA) is the World Bank’s agency that helps the world’s poorest countries. Founded in 1960, it provides grants and interest-free or interest-free loans for projects and programs that promote economic growth, reduce poverty and improve the lives of the most deprived. IDA is a leading donor to the world’s 76 poorest countries, 39 of which are in Africa. IDA resources help make positive changes in the lives of 1.6 billion people in eligible countries. Since its inception, IDA has supported operations in 113 countries. The annual volume of pledges is steadily increasing and has averaged $21 billion over the past three years, of which about 61% goes to Africa.
Distributed by APO Group on behalf of The World Bank Group.
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