|Approval Date||08 May 2014|
|Signature Date||22 May 2014|
|Planned Completion Date||30 Sep 2018|
|Last Disbursement Planned Date||30 Sep 2018|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||43010|
The project is designed as a capacity building intervention using the Institutional Support Project instrument to respond to the core thrust of the GoSL PFM Reform Strategy. The overarching goal is to improve budget planning and credibility, financial control, accountability and oversight in government finances aiming to strengthen public sector and economic management. In order to realize the gains that have occurred from the previous Bank projects, Bank intervention seeks to continue focusing on institutional capacity building particularly: (i) ensuring sustainability and improved coordination with other development partners, and (ii) strengthening the supply and demand side of governance. This will require strengthening the PFM institutions (e.g., key departments in the MoFED); accountability institutions, such as external audit; the Legislature; and support to the civil society.
Through strengthened institutional capacity for the delivery of effective PFM and oversight, the expected outcomes will be enhanced fiscal discipline, strategic allocation of resources and efficient service delivery. The project is expected to lead to: (i) Enhanced Budget Planning, and Credibility; (ii) Strengthened fiscal control, accountability and oversight; (iii) Strengthened revenue mobilization and administration systems; (iv) Strengthened local governance, financial management & accountability systems; and (v) Improved PFM coordination and project management.
The project specifically responds to the Government’s request to harmonize and coordinate all PFM reform activities under a single reform umbrella and joint funding arrangements, avoiding different sets of rules.
African Development Fund
Ministry of Finance
|Last Update||31 Oct 2019|