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Monday, 15 November 2010

The EU allocates €61 million to support the Dominican Republic

The European Commission approved a General Budget Support programme for a total amount of € 61 million in favour of the Dominican Republic. The programme aims at supporting government's growth and poverty reduction objectives, by contributing to the National Development Strategy (NDS) in the areas of pro-poor, sustainable economic growth, human development focusing on education and health and good governance. The programme is expected to produce the following results: • Social indicators are improved and the progress in MDG accelerated by providing an increased focus through variable tranches based on NDS performance indicators in these sectors. • Public financial management (PFM) improved by providing for an effective policy dialogue on PFM and through conditions and indicators related to PFM reform. • Ownership and harmonization are promoted and transaction costs decreased by the own nature of the budget support instrument. • National capacities are strengthened by using government systems. Complementary actions are also foreseen for capacity development.

Source: European Commission