|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||11330|
The project is designed as a capacity building intervention using the Institutional Support Project instrument to respond to the core thrust of the Government of Sierra Leone Public Finance Management (PFM) Reform Strategy. The project specifically responds to the Government’s request to harmonize and coordinate all Public Finance Management (PFM) reform activities under a single reform umbrella and joint funding arrangements, avoiding different sets of rules. This is an innovative institutional support project in terms of implementing the Bank’s commitment to development effectiveness. Innovation comes from the proposed funding modality, which will provide funds through a pooled funding arrangement. This approach has been used by the Bank in Liberia, and the design of this project has drawn on the extensive experience of that project still ongoing. 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 direct beneficiaries of the project include: the Ministry of Finance and Economic Development (MoFED); the Budget Bureau and associated units of the MoFED; line ministries; the Accountant General’s Department; the Internal Audit Department; the Human Resources Management Office (HMRO), the National Revenue Agency; the National Public Procurement Agency; Local Councils; the Audit Service Sierra Leone; and the Public Accounts Committee, Transparency Committee, as well as the Finance and Appropriations Committee of Parliament. In addition, the project will benefit non-state actors in exercising demandside accountability and oversight responsibilities in the area of PFM. The impact on poverty and all other cross cutting areas will therefore be indirect, but significant. The project will promote gender balance through the training programs.
African Development Fund
Ministry of Finance
|Last Update||12 May 2021|