The Rainforests of Cameroon - PROFOR

APPENDIX 1Structural Adjustment Credits,1994–98The forest sector became one of the focus sectors in the successivestructural adjustment programs negotiated between the Bretton Woodsinstitutions and Cameroon until the mid-1990s: the Economic RecoveryCredit of 1994, and the second and third Structural Adjustment Credits(SAC) II and III, approved in 1996 and 1998, respectively. In the thirdSAC, the forestry sector became a full component of the credit.Structural adjustment programs between 1994 and 1998. The forestcomponent of the credit approved just after the January 1994 devaluationof the CFAF aimed at reducing sector expenditures by institutionalconsolidation, increasing government revenues, and supporting preparationof a new forest law. The World Bank was disappointed with theoutcome of this program, mostly because of the features of the proposedforest law regarding concession award procedures, the log export ban,and an expanded role for government institutions. The approval of a satisfactoryforest law therefore became a condition of effectiveness for anEconomic Recovery Credit, approved in June 1994. A new adjustmentprogram, SAC II, negotiated in 1996, was to help improve public financemanagement and in Delivered this context by The included World Bank forest e-library taxation to: reform.The World BankThese conditionality-based IP operations, : 192.86.100.34which enjoyed little governmentownership, were conceived Mon, 09 Nov and 2009 implemented 17:06:18 contentiously ratherthan collaboratively between the government and the World Bank. They131(c) The International Bank for Reconstruction and Development / The World Bank