Burundi Economic Reform Support Programme gets cash boost
A $15 million (€12 million) grant from the Fragile States Facility has been approved by the board of directors at the African Development Bank (AfDB) for Burundi.The money - approved on May 19th - will be put towards Burundi's Third Economic Reform Support Programme, which aims to improve internal and external control of public finances in the country.
Burundi has been working to deploy a significant reform programme since 2003 to strengthen audits, improve the documentation of budgets and bolster the public procurement system.
It was reported by the AfDB the grant should also help to finance the country's 2010 budget.
Pro-poor expenditure is expected to increase during the 2010 fiscal year as the government strives to improve Burundi's social conditions, with 67 per cent of the population living below the poverty line.
The AfDB was founded in 1964 and aims to promote sustainable economic development and reduce poverty in Africa.