Macedonia - Public Sector Management Adjustment Loan Project : second tranche release - full compliance
Loening, Josef L.
The document summarizes progress made under a reform program supported by the Public Sector Management Adjustment Loan (PSMAL) for Macedonia. The principal objective of the PSMAL was to improve public sector management in order to provide the basis for sustained economic growth, and improve the living conditions for the country's poor. While addressing a broad range of generic issues of public sector management, the PSMAL focused specifically on the management of health care expenditures, which are both a source of fiscal risk and a key element of the Government's effort to reduce poverty. In view of the overall performance and progress with the implementation of the program supported by the Loan, and in compliance with the specific conditions of release referred to in Section 2.02 (d) of the Loan Agreement, and described in the attached Tranche Release Document, it is recommended that the Bank release the second tranche of US$ 19.85 million to the Borrower.
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