Economic Recovery Support Program - Subprograms 1 and 2

Policy-based loans are useful instruments for aligning donor activities and securing donor participation. As noted above, donors provide a significant amount of resources, including for capacity building. Various modalities of donor participation and coordination could be explored in the design of policy-based loans, such as inclusion of donor commitment and funding of specific programs and projects (especially in the social sectors, where donors are active) and TA (notably in PFM).