Lesotho - Institutional Support Project For Debt and Expenditure Management (ISPDEM)


Project Summary

Approval Date 26 Oct 2022
Planned Completion Date 31 Dec 2025
Last Disbursement Planned Date 31 Dec 2025
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15124
Commitment U.A 2,000,000
Status Approved

Project General Description

This intervention concerns the Institutional Support Project for Debt and Expenditure Management (ISPDEM). It’s designed to promote sustainable management of public debt and improve efficient use of public resources. The Project will provide technical assistance and capacity building support in two priority areas: (a) institutional strengthening for public debt management; and (b) public expenditure management through strengthening public investment management and supporting modernization of financial reporting processes. It will build knowledge and develop skills in specific areas related to public debt management, Public Investment Management, domestic capital market development, contingent liabilities, and asset management. The project will also support the development of a Public Sector Investment Database as well as supporting interfacing and roll-out of debt management and financing reporting systems. This intervention has three components, namely: (a) Strengthening capacity in public debt management; (b) Strengthening capacity in public expenditure management; and (c) Project management.

Project Objectives

The development objective of the project is to promote sustainable management of public debt and improve efficient use of public resources thereby contributing to fiscal consolidation and macroeconomic stability. The specific objective is to strengthen Government’s capacity in public debt management, and expenditure management which are critical to macroeconomic stability and a sustainable economic and inclusive growth.

Beneficiaries

The direct project beneficiaries are the Department of Public Debt Management, the Treasury (the Accountant General’s Department), and Project Cycle Department under Ministries of Finance, and Development Planning through institutional capacity building support and technical assistance on debt management, public investment management, and expenditure management. The indirect beneficiaries are the Basotho people through improved expenditure management, well-managed public debt, and increased accountability. The Basotho people will be the overall beneficiaries through improved governance and reduced burden to pay the country’s debt and arrears. as well as the country’s ability to access diversified concessional financing.

Participating Organization

Funding
African Development Fund
Implementing
MINISTRY OF FINANCE

Information

IATI identifier 46002-P-LS-KF0-005
Last Update 28 Jan 2023

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Contact Details

Name KOMA Baboucarr
Email b.koma@afdb.org

Geographic Location

Country Lesotho
Coordinates Location Name
-29.58333 27.83333 Maseru