This credit marks the second and final instalment in a Development Policy Financing (DPF) series of two operations, following a 221.5 million USD operation approved in 2021.
While the impact of this operation is expected to fully materialise by 2024, the DPF series has already supported significant achievements.
More than 140,000 businesses received tax support through a tax relief package in 2021, while more than 85,000 children have received subsidised childcare, which has promoted gender equality in the workplace.
Government services available online have also doubled.
Going forward, the institutional and policy reforms supported by this operation will facilitate business recovery by enhancing the tax environment, supporting the financial inclusion of vulnerable households, and increasing access to quality childcare services.
To spur green and digital development, the reforms supported by the DPF focus on procurement, digitising public administration, scaling up renewable energy, and bolstering the financial sustainability of the power sector, said the World Bank.
Moreover, reforms supported by this operation are expected to further improve public service delivery to households and businesses.
