[{"bbox": [84, 128, 706, 162], "category": "Section-header", "text": "# 4 IMPLEMENTATION ARRANGEMENTS"}, {"bbox": [84, 194, 379, 225], "category": "Section-header", "text": "## 4.1 Financing Agreement"}, {"bbox": [96, 241, 1086, 269], "category": "Text", "text": "In order to implement this action, it is envisaged to conclude a financing agreement with the partner country."}, {"bbox": [84, 294, 508, 326], "category": "Section-header", "text": "## 4.2 Indicative Implementation Period"}, {"bbox": [96, 341, 1132, 421], "category": "Text", "text": "The indicative operational implementation period of this action, during which the activities described in section 3 will be carried out and the corresponding contracts and agreements implemented, is 60 months from the date of entry into force of the financing agreement."}, {"bbox": [96, 433, 1121, 486], "category": "Text", "text": "Extensions of the implementation period may be agreed by the Commission's responsible authorising officer by amending this Financing Decision and the relevant contracts and agreements."}, {"bbox": [84, 513, 694, 544], "category": "Section-header", "text": "## 4.3 Implementation of the Budget Support Component"}, {"bbox": [84, 559, 670, 586], "category": "Section-header", "text": "### 4.3.1 Rationale for the Amounts Allocated to Budget Support"}, {"bbox": [96, 602, 1132, 734], "category": "Text", "text": "The amount allocated for the budget support component is EUR 45 000 000 and for complementary support is EUR 14 550 000. This amount is based on the lessons learnt from the ongoing Budget Support operation (\"Response to COVID-19 crisis in Angola in support of socio-economic relief\" - CRIS number: AO/FED/042-923) financed under the 11th European Development Fund (EDF), which proved successful in encouraging the effective implementation of this flagship programme for the Government."}, {"bbox": [96, 746, 1132, 959], "category": "Text", "text": "Indeed, the PREI has been placed at the centre of the strategy for the formalisation of the economy and the Government's efforts to diversify the economy and create an inclusive business environment. Nonetheless, the PREI has received a rather low share of the State's budget allocation⁶⁰, compared to the importance officially given to the programme. This is why this Action places greater emphasis on policy coordination among the stakeholders, and looks at reinforcing the instruments for policy-based programming and budgeting. The Action includes an array of specific targets for incentivising increased government allocations towards priority interventions such as, for example, micro-credits and an improved business environment for newly formalised economic operators including women-led businesses."}, {"bbox": [96, 970, 1132, 1157], "category": "Text", "text": "Despite the economic reforms steered by the Government in recent years, the population is still suffering the negative impact of these reforms (i.e. high inflation, less government expenditures, etc.) and the social protection mechanisms, which were supposed to accompany the reforms, are not getting there. The allocation for social protection in the general budget has decreased and programmes such as the cash transfers - Kwenda have been rolled out slower than expected. This Action is a powerful instrument to incentivise the Government to increase the allocation to social protection, through policy dialogue, while studying the feasibility of more adequate social protection regimes for formalised actors."}, {"bbox": [96, 1169, 1132, 1223], "category": "Text", "text": "The following disbursement calendar and profile proposed for the Budget Support is indicative. The actual disbursement calendar and profile will be set out in the financing agreement and may remain subject to change:"}, {"bbox": [105, 1236, 1123, 1432], "category": "Table", "text": "<table><thead><tr><th>Type</th><th>2023</th><th>2024</th><th>2025</th></tr></thead><tbody><tr><td>Fixed tranche</td><td>10 000 000</td><td>5 000 000</td><td>5 000 000</td></tr><tr><td>Variable tranche</td><td></td><td>12 750 000</td><td>12 250 000</td></tr><tr><td>Total (EUR)</td><td>10 000 000</td><td>17 750 000</td><td>17 250 000</td></tr></tbody></table>"}, {"bbox": [84, 1447, 570, 1474], "category": "Section-header", "text": "### 4.3.2 Criteria for Disbursement of Budget Support"}, {"bbox": [96, 1490, 236, 1515], "category": "Section-header", "text": "#### a) Conditions"}, {"bbox": [96, 1528, 739, 1555], "category": "Text", "text": "The general conditions for disbursement of all tranches are as follows:"}, {"bbox": [84, 1620, 1095, 1645], "category": "Footnote", "text": "⁶⁰ In the 2022's State Budget (OGE), the MEP gets a share of 6.9%, out of which more than half was allocated to the OEI."}, {"bbox": [1026, 1680, 1141, 1704], "category": "Page-footer", "text": "Page 27 of 33"}]