LIBRARY

Originally introduced by the international financial institutions (IFIs) in September 1999, poverty reduction strategy papers (PRSPs) are country-drafted, strategic economic documents intended to establish a multi-year framework for national poverty reduction. PRSPs serve as the basis for debt relief and concessional lending in roughly 70 countries. They provide a framework for the use of the resources freed through Heavily
Indebted Poor Country (HIPC) debt relief initiatives, as well as a basis for concessional financing through the Bank’s International Development Association (IDA) and the Poverty Reduction and Growth Facility (PRGF) of the International Monetary Fund (IMF).