Equatorial Guinea - Public Finance Modernization Support Project (PAMPF)

Project Summary

Approval Date	05 Jun 2019
Signature Date	29 Jul 2019
Planned Completion Date	31 Dec 2025
Last Disbursement Planned Date	30 Dec 2025
Sovereign / Non-Sovereign	Sovereign
Sector	Multi-Sector
DAC Sector Code	11330
Commitment	U.A 21,236,748.83
Status	Implementation

Project General Description

The proposed operation concerns the granting of an EUR 26.5436 million loan from the ADB window to the Republic of Equatorial Guinea to finance the Public Finance Modernisation Support Project (PAMFP). This is an institution building operation to be implemented over the period 2019-2023, with a view to supporting the authorities in their efforts to enhance governance and modernize public finance management in the context of an International Monetary Fund (IMF)-supported economic and financial reform programme, in accordance with the resolutions of the Economic and Monetary Community of Central Africa (CEMAC) Heads of State Summit held in Yaoundé in 2016 on the restoration of the budgetary and external sustainability of the region. PAMFP will comprise three components: (i) Support to enhance the mobilization of non-oil revenue; (ii) Support to enhance the public expenditure effectiveness and control; and (iii) Project management. The first component will help improve non-oil resources mobilization to enable the country to gradually exit from dependency on oil resources, and reduce vulnerability to abrupt and prolonged changes in oil prices. The second component will help enhance public expenditure effectiveness, transparency, control, accountability and capacity for managing the economy. Lastly, the third component will ensure the effective implementation of the project.

Project Objectives

The overall objective of the project is to help improve public finance management by increasing the effectiveness of revenue mobilization and ensuring greater efficiency in public expenditure management. The specific objectives are as follows: (i) modernize the public finance management regulatory framework to ensure that the Government’s actions are performance-and results-oriented; (ii) computerize and interconnect revenue and Public Finance Management departments and other departments of the Ministry of Finance, Economy and Planning to enhance rigor, transparency, control and efficiency in the management of public resources; and (iii) build public finance management capacity.

Beneficiaries

The direct beneficiaries of this institutional support project are: the Directorate-General of Taxation (DGI), the Directorate-General of Customs (DGD), the Directorate-General of Budget (DGB), the Directorate-General of Financial Control (DGCF), the Directorate-General of the Treasury, the Directorate-General of Public Accounting, the Directorate-General of Autonomous Entities and Public Enterprises, the Directorate-General of Investment Planning, the Directorate General of the Autonomous Amortization Fund of Public Debt (CAAPD), and officers and executives of the Ministry of Finance, Economy and Planning. In a broader perspective, the country's entire population will benefit from this project. The people will benefit from the improved internal resource mobilization and increased transparency and efficiency in public expenditure management, as these would lead to greater efficiency in economic development financing and an improvement in the quality of life.

Participating Organization

Implementing

MINISTERE DU PLAN ET DU DEVELOPPEMENT.

Funding

African Development Bank

Implementing

MINISTERE DU PLAN ET DU DEVELOPPEMENT.

Information

IATI identifier	46002-P-GQ-K00-008
Last Update	21 Mar 2023

Export

Contact Details

Name	Moustapha DOUKOURE
Email	m.doukoure@afdb.org

Geographic Location

Country	Equatorial Guinea

Coordinates	Location Name
3.75 8.78333	Malabo

Project Classification

Finance Type	Aid Loan Excluding Debt Reorganisation
Flow Type	ODA
Aid Type	Project Type Interventions

Commitments

U.A 21,236,748

African Development Bank

U.A 21,236,748.83

Disbursements

Repayments (Interest & Loan)

Document Type	Language	Document
Appraisal report	fr	guinee equatoriale - projet dappui a la modernisation des finances publiques pamfp - rapport devaluation
Appraisal report	en	viewer
Contract	en	listing of awarded contracts from 2016 to 2021 as at march 2022
Evaluation Report	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
Expression of interest	fr	viewer
General Procurement Notice	fr	pamfp agpm
Invitation for Bids	fr	viewer
Invitation for Bids	fr	viewer

Indicator	Indicator Measure	Target Year	Target Value	Actual Year	Actual Value
Non-oil revenue mobilisation (as a percentage of GDP)	%	2019	8,5	2021	4,75
The capacity of the internal (DGCF) (Audit Bench) oversight entities is built	None	2019	Enhanced internal and external oversight mechanisms are set up	2021	Weak internal and external oversight
Diagnosis and action plan to broaden the tax base in key sectors of the economy (telecommunications, mining, tobacco, timber, fisheries)	Number	2019	1.0	2021	0,6
Establishment of the unique taxpayer identification number (large enterprises and importers) to better control the tax base	Number	2019	1.0	2021	0,3
Installation of phase II of the ASYCUDA software	Number	2019	1.0	2021	0,3
Interconnection between the Directorate-General of Taxation (DGI) and the Directorate-General of Customs (DGD) to enhance revenue mobilization	Number	2019	1.0	2021	0,3
Computerization of the payment systems of the Directorate-General of the Treasury (DGT) and interconnection with the Directorate-General of the Budget (DGB) for better oversight of arrears management	Number	2019	1.0	2021	0,3
Number of executives trained on the CEMAC new public finance management standards	Number	2019	200.0	2021	0,55
Number of executives trained on the CEMAC new public finance management standards - of which women	Number	2019	60.0	2021	20.0
Establishment of an integrated public expenditure management system (SIGFIP)	Number	2019	1.0	2021	0,4
Development of manuals of audit oversight procedures and guides with a focus on key sectors of the economy (hydrocarbons, mining, telecommunications, fisheries and forestry)	Number	2019	1.0	2021	0,95
Audit of domestic arrears and an Audit Plan	Number	2019	1.0	2021	0,8
Computerized debt management system (SYGAD)	Number	2019	1.0	2021	0,3
Establishment of the Public Procurement Regulatory Authority	Number	2019	1.0	2021	0,3
Support for certification under the Extractive Industries Transparency Initiative (EITI)	Number	2019	1.0	2021	0,55
Development and implementation of a continuing education programme	Number	2019	1.0	2021	0,5
Preparation for the establishment of the Public Financial Management Institute	Number	2019	1.0	2021	0,3
Training of executives of the Directorate-General of Taxation	Number	2019	150.0	2021	0,55
Training of executives of the Directorate-General of Taxation - women trained	Number	2019	45.0	2021	10.0
Training of inspectors of the Directorate-General of Taxation	Number	2019	150.0	2021	0,3
Training of inspectors of the Directorate-General of Taxation - women trained	Number	2019	45.0	2021	10.0
Equipment and operation of the Project Management Unit	Number	2019	1.0	2021	1.0