WASHINGTON, March 1, 2019 - The World Bank’s Board of Executive Directors today approved financing for the following project:
Strengthening Public Financial Management Program to Enable Service Delivery
IDA Credit: US$100 million
Terms: Maturity = 30 years, Grace period = 5 years
Project ID: P167491
Project Description: The project aims to improve fiscal forecasting, budget preparation and execution, financial reporting, and transparency to enable better resource availability for service delivery in selected government agencies. It will also support government efforts in implementing its PFM Action Plan and to ensure timely budget releases, and the use of the treasury single account (TSA). The reforms will include strengthening and the monitoring of SOE performance, ensuring the timely submission of central government financial statements for auditing, and strengthening the internal audit function.