OFFICIAL DOCUMENTS ) The World Bank 1818 H Street N.W. (202) 477-1234 IN t ERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Washington, D C. 20433 Cable Address INTBAFRAD INTERNATIONAL DEVELOPMENT ASSOCIATION U.S A Cable Address: INDEVAS December 20. 2013 Mr. Dong-Suk Oak President Korean Institute of Public Finance 79-6 Garak-Dong Songpa-Ku Scoul Korea Re: /PEALl Grunt Ao.TF 016153/ Public Expenditunre Management Network in Asia )ear Sir: In response to the request for financial assistance made ont behalf of Korean Institute of Public Finance (KIPF) (,Recipient"), I ar pleased to inforn you that the International Bank for Reconstruction and Development ("World Bank), acting as administrator of grant Funds provided by Republic of Korea (")onor(s)") under the Public Expenditure Management Network in Asia (PEMNA) Multi-Donor Trust Fund. proposes to extend to the Recipient. a grant in an amount not to exceed two million and four hundred thousand United States Dollars (U.S.S2,400,000) (-Grant") on the tenns and conditions set forth or referred to in this letter agreement ("Agreement"). Mhich includes the attached Annex. to assist in the financing of the project described in the Annex (Project"). This Grant is linded out of the abovementioned trust find for which the World Bank receives periodic contributions front the Donors. In accordance Nkith Section 3.02 of the Standard Conditions (as defined in the Annex to this Agreement). the World Bank's payment obligations in connection with this Agreement are limited to the amount of ftds made available to it by the Donors under the abovementioned trust fund, and the Recipient's right to withdraw the Grant proceeds is subject to the availability of such tinds. The Recipient represents, by confirning its agreement below, that it is authorized to enter into this Agreement and to carrv out the Project in accordance with the tenns and conditions set forth or referred to in this Agreement. Please confirm the Recipient's agreement to the foregoing by having an authorized official of the Recipient sign and date the enclosed copy of this Agreement, and returning it to the World Bank. Upon receipt by the World Bank of this countersigned copy, this Agreement shall become effective as of the date of the countersignature; provided. however, that the offer of this Agreement shall be deemed withdrawn if the World Bank has not received the countersigned copy of this Agreement within 90 days after the date of signature of this Agreement by the World Bank, unless the World Bank shall have established a later date for such purpose. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By, uI Axel van Trotsenburg Regional Vice Prasident East Asia and Pacific Region AGREED: KOREAN INSTITUTE OF PUBLIC FINANCE By- &/ % 1 Authoized Representativel Name Dov -St Oalk Title jcJ e,,At-- Date: Oc,. -12 U3 Enclosures: (1) Standard Conditions for Grant-s Made by the World Bank Out of Various Funds. dated February 15, 2012 (2) Disbursement Letter of the same date as this Agreement, together with World Bank Disbursement Guidelines for Projects, dated May 1, 2006 PEMAI Grant No. TF 016153 ANNEX I Article I Standard Conditions; Definitions 1.01. Sanlord Conditions. The Standard Conditions for Grants Made by the World Bank out of Various Funds dated February 15, 2012 (*Standard Conditions"), with the modifications set forth in Section I of the Appendix to this Agreement, constitute an integral part of this Aercement. 1.02. Dcfinitions. Unless the context requires otherwise, the capitalized terns used in this Agreement have the meanings ascribed to them in the Standard Conditions or in this Agreement. Article II Project Execution 2.01. Project Objectives and Description. The objectives of the Project are to support formation of a sustainable peer network foT public finance practitioners from the East Asia and Pacific countries. in which officials can share professional experiences and learn from each other, thereby improving own country public finance management systems. The Project consists of the following parts: (a) Carrying out of expansion of know ledge and learning across PEMNA members. (b) Undertake PEMNA events in accordance with the PEMNA annual w\ork plan. 2.01 Project Execution Generallv. The Recipient declares its commitment to the objectives of the Project. To this end. the Recipient shall car- out the Project in accordance with the provisions of: (a) Article 11 of the Standard Conditions, (b) the ~Guidelines on Preventing and Combating Fraud and Corruption in Projects Financed by IBRD Loans and IDA Credits and Grants", dated October 15, 2006 and revised in January 20 11 ("Anti-Corruption Guidelines-), and (c) this Article II. 2.03. Donor Visibility and Visit. (a) The Recipient shall take or cause to be taken all such measures as the World Bank may reasonably request to identify publicly the Donor's support for the Project. 2.04. Project Monitoring, Reporting and Evaluation. a) The Recipient shall monitor and e%aluate the progress of the Project and prepare Project Reports in accordance with the provisions of Section 2.06 of the Standard Conditions and on the basis of the acceptable to the World Bank. Each Project Report shall cover the period of one calendar semester, and shall be furnished to the World Bank not later than one nionth after the end of the period covered by such report. (b) The Recipient shall prepare the Completion Report in accordance with the provisions of Section 2.06 of the Standard Conditions. The Completion Report shall be furnished to the World Bank not later than 45 days after the end of each semi-annual calendar year. In order to assist the Recipient in preparing the Completion Report, the Recipient shall employ consultants 31 whose qualifications, experience and terms of reference are acceptable to the World Bank in accordance with the provisions of Section 2.07 of this Agreement. 2.06. Financial anagement. (a) The Recipient shall ensure that a financial management skstem is maintained in accordance with the provisions of Section 2.07 of the Standard Conditions. (b) The Recipient shall ensure that interim unaudited financial reports for the Project are prepared and furnished to the World Bank as part of the Project Report not later than 45 days after the end of each semi-annual calendar, covering the semester, in form and substance satisfactory to the World Bank. (c) The Recipient shall have its Financial Statements audited in accordance with the provisions of Section 2.07 (b) of the Standard Conditions. Each aundit of the Financial Statements shall cover the period of one fiscal year of' the Recipient. The audited Financial Statements for each such period shall be furnished to the World Bank not later than six months after [the end of such period. 2.07. Procurement (a) General. All goods and consultants' services required for the Project and to be financed out of the proceeds of the Grant shall be procured in accordance with the requirements set forth or referred to in: (i) Section I of the tGuidelines: Procurement of Goods, Works and Non- consuling Services under IBRD Loans and IDA Credits and Grants by World Bank Borrowers" dated January 20 11 ("Procurement Guidelines"), in the case of goods: (ii) Sections I and IV of the "Gulidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits and Grants by World Bank Borrowers" dated January 2011 ("Consultant Guidelines") in the case of consultants' services: and (iii) the provisions of this Section. as the same shall be elaborated in the procurement plan prepared and updated from time to time by the Recipient for the Project in accordance with paragraph 1.18 of the Procurement Guidelines and] paragraph 1.25 of the Consultant Guidelines ("Procurement Plan"). (b) Definitions. The capitalized terms used in the f'ollowing paragraphs of this Section to describe particular procurement methods or methods of review by the World Bank of particular contracts. refer to the corresponding method described in Sections 11 and Ill of the Procurement Guidelines. or Sections II, Ill, IV and V of the Consultant Guidelines, as the case may be. (c) Particular Methods of Procurement of Goods (i) '[le f ollowing methods. other than International Competitive Bidding, maN be used for procurement of goods for those contracts vwhich are specified in the Procurement Plan: (A) National Competitive Bidding: (B) Shopping: (C) procurement under Framework 4 Agreements in accordance with procedures which have been fbund acceptable to the World Biank: (D) Direct Contracting' and (E) Well-established Private Sector Procurement Methods or Commercial Practices which have been found acceptable to the World Bank. (d)] Particular Methods of Procurement of Constiltants' Services (i) Except as otherwise provided in item (ii) below, consultants' services shall be procured under contracts awarded on the basis of Quality- and Cost-based Selection. (ii) The followitng methods, other than Quality- and Cost-based Selection, may be used for the procurement of consultants' services for those assignments which are specified in the Procurement Plan : (A) Quality-based Selection, (B) Selection under a Fixed Budget: (C) Least Cost Selection: (D) Selection based on Consultants' Qualifications: (E) Single- source Selection of consulting firms: (F) Well-established Private Sector Procurement Methods or Commercial Practices which have been found acceptable to the World Bank: (G) Selection of consultants under Indefinite Delivery Contract or Price Agreement; (1l) Selection of Individual Consultants; and (1) Single-source procedures for the Selection of Individual Consultants]. (c) Review by the World Bank of Procurement Decisions. The Procurement Plan shall set forth those contracts which shall be subject to the World Bank's Prior Review. All other contracts shall be subject to Post Review by the World Bank. Article III Withdrawal of Grant Proceeds 3.01. Eligible Expenditure.v. The Recipient may withdraw the proceeds of the Grant in accordance with the provisions of: (a) the Standard Conditions: (b) this Section; and (c) such additional instructions as the World Bank may specify by notice to the Recipient (including the "World Batik Disbursement Guidelines for Projects" dated May 2006. as revised from time to time by the World Bank and as made applicable to this Agreement pursuant to such instructions), to Finance Eligible Expenditures as set forth in the following table. The table specifies the categories of Eligible Expenditures that may be Financed out of the proceeds of the Grant ("Category"), the allocations of the amounts of the Grant to each Category, and the percentage of expenditures to be Financed for Eligible Expenditures in each Category. "Operating costs" means the reasonable costs incurred by the Recipient, as shall have been approved by the World Bank, for the incremental expenses incurred on account of Project implementation including but not restricted to office equipment, m1ain1tenance cost, document duplication/printing, consumables, travel cost and per diem for Project staff for travel. "Training costs" means the reasonable costs, as shall have been approved by the World Bank, for training conducted under the Project, including but not restricted to expenses for workshops facilities, 'preparation of training and workshop materials, travel costs for the participants and other expense related to event preparation. Categor nAmount of the Grant Percentage of Allocated Expenditures to be (expressed in USS) Financed (inclusive of Taxes) (1) Consulting services 2,400,000 l00% training, and operating and staff costs OTAL ANMOUINT 2.400.000 3.02. IVithdrawal Condiiis. Notw ithstanding the provisions of Section 3.01 of this Agreeimeni, no withdrawal shall be made for paynlents made prior to the date of countersignature of this Agreement by the Recipient. 3.03. Withdratwal Period. The Closing Date referred to in Section 3.06 (c of the Standard Conditions is December 31. 2015. Articie IV Recipient's Representative; Addresses 4.0 1. Recipieiit's Representarive. Tlhe Recipient's Representative referred to in Section 7.02 of the Standard Conditions is 4.02. Recipient's A1 ddress. The Recipient's Address referred to in Section 7.0 1 of the Standard Conditions is: Dr. John Kim Senior Fellow Korea Institute of >tiblie Finance Address: 28, Songpa-daero 28-gil. Songpa-gu, Scoul 138-774, Korea Email: ihrvta kipf.re.kr Cable: Telex: Facsimile: 82-2-2186-2211 82-2-2186-2399 4.03. World Bank's Atidress. The World Banks Address referred to in Section 7.01 of the Standard Conditions is: International Bank for Reconstruction and Development 1818 11 Street. N.W. Washington. D.C. 20433 6 IUniited States of America C'able: Telex: Facsimi le: INT13AFRAD 248423(MCI) or 1-202-477-6391 Washington. D.C. 64145 (MCI) 7 APPENDIX Modifications to the Standard Conditions The provisions of Section 4.02 (d) of the Standard Conditions are deleted in their entirety. 8 ANNEX 2 PEMNA OBJECTIVES AND ORGANIZATION STRUCTURE 1. OBJECTIVES OF PEMNA 1He Public Expenditure Management Network in Asia (PEMNA) is a network of public finance practitioners in East Asia and the Pacific Region referred to as *lAP region' or *EAP countries.' PEMNA aims to improve efficiency. effectiveness and transparency of public financial management systems in these countries by providing a platform through which officials can share proflessional experiences and learn from each other. The core objective of PEMNA is to support sustainable peer learning networks for public financial management (IPTN) practitioners from EAP countries, in which officials can share professional experiences and learn from each other, thereby improving own country PIM sNstems. More specifically, PEMNA supports establishing Communities of' Practice that facilitate member countries to: (a) exchange experiences on specific, high priority PFM refons and their implementation; (b) analyze common challenges faced; and (c) benchmark their own performance to one another. The program aims to establish PFM Communities of Practice where menmibers have sense of belonging, with formal and informal contact, with positive results with regard to learning and the application of learning, and with a content resource base for use by members. II. ORGANIZATION OF PEMNA The main bodies of PEMNA are: I. Steering Committee (SC) 2. Communities of Practice (CoP) 3. Secretariat These bodies of PEMNA are supported by 1. CoP Leadership Teams 2. Task Team Leader 3. CoP Facilitators 1. Steering Committee The Steering Committee (SC) consists of representatives of PEMNA member countries, representatives of development partners, ('oP facilitators and the I lead of the Secretariat. The SC will be chaired by a Chairperson elected by the members.The SC shall oversee the implementation of PEMNA objectives. The SC has, inter alii, the following responsibilities: a. To decide on the budget for the operating year: b. To agree on the CoPs annual work programs and budgets, c. To oversee the accounts of PEMNA; d. To approve budget reallocations of niore than 15 percent of total CoP budgets; e. To make changes in the PEMNA membership and guide its interaction with other networks and agree on establishment of new CoPs and other groups as appropriate; 9) f. To provide guidance for the preparation and presentation of activity. financial and performance reports by the Secretariat: g. To review the performance of'CoPl activities and ensure that objectives are met; b. To provide suggestions on PEMNA activities reports and discuss future activities, and i. To change rules of operation arid other regulations concerning PEMNA. The SC shall meet at least tw ice a year or as needed. either in face-to-face meetings or through videoconferences. 2. Community of Practice Communities of Practice (CoP) are networks of professionals that lunction as the heart of PEMNA. The main role of the CoPs is to promote efficient. effective, and transparent management of public finances bN sharing knowledge among PEMNA members. CoPs operating within the PEMNA network as of May 2013: a. Budget ConiunitV of Practice (B-CoP) b. Treasury Community of Practice (T-CoP) The Coil consists of, Members that are engaged in related thematic activities in their home institutions. ile numbers of participants in CoP events may vary depending on the issues and topics. CoPs engage in the following activities: a. Discussions and exchanges between members both through CoP e\ents arid on the PEMNA web portal: b. Seminars. study visits. workshops and other peer-learning activities which provide opportunities for know ledge sharing between, and learning by, nembers- c. Exchanges with other international initiatives related to public financial management, d. Sharing of key documents, publications and knowledge of PFM practices between members: CoPs covering other professional areas may be established at the initiative of PEMNA members anid with the approval of the SC. Each member country shall nominate three officials to each CoP as members. Representatives of the SC shall be drawn from these representatives, not in addition to them. 3. Secretariat The PEMNA Secretariat pro, ides support to the network arid organizes its activities as requested by the SC with inputs from the CoP leadership tearis and CoP members. The Secretariat facilitates communication between the members arid maintains records on membership and participation in events. The Secretariat shall nominate PEMNA coordinator(s) among its staff who will be the niain contact person for members of PEMNA, the SC and others interested in PEMNA activities. 10 The Secretariat shall have the followiing responsibilities: a. To provide all necessary administrative and logistical support, including all travel arrangements for PLMNA activities including plenarv mceelings. CoP meetings, learning events, ColP leadership team meetings, and SC meetings: b. To prepare minutes of' meetings. distribute them among Col> and SC members and post them on the PEMNA \\ebsite: c. To conduct monitoring and evalunation of PEMNA activities: d. To prepare and maintain PEMNA archives. including records on PEMNA membership and their contaets. program presentations, minutes of meetings. correspondence, surveys. evaluation results, press releases, newsletters. and to make this information available on the PLMNA wýebsite as necessary: e. To update the contents of the PEMNA website regularlv, both member-only and external sites: f. To establish and administer an online library, incluçling managing decuments relevant to P NINA; To facilitate coimunication between PEMNA network members including through the website; h. To conduct research on PFM issues in the-EAP region based on requests from CoPs: i. To prepare budgets for PEMNA activities, implement allocated funds. monitor performance and submit relevant reporting; j. To de%elop and inplement a PEMNA marketing and communication strategy: k. To host and support long-term and short-term work of experts at the Secretariat's office: and l. To perform other duties assigned to it by SC or Col> leadership teams and take any other appropriate initiative aimed at supporting PEMNA objectives and goals. The Secretariat will prepare an Annual Work plan that specifies how the abo\e responsibilities will be undertaken, as well as any other tasks assigned by the SC of PEMNA and by the CoPs. The Annual Work Plan will include a detailed budget that refleets the funding available for the execution of these tasks by PEMNA Secretariat. After approval by the World Bank TT-li the Annual Work Plan of the Secretariat will be submitted for endorsenent by the SC. The Secretariat shall assist the CoPs and Col- leadership teanis to develop work programs and budget for cach event for endorsement by the SC. The Secretariat shall organize COP meetings and other cvents in coordination witlh host country, the Col> facilitators and the TTIL. The Secretariat shall implement the activities in accordance willt the endorsed CoP work prograis and budgets. For all ColP work, Secretariat staff shall be assigned to cach ColP and shall work under the guidance of the respective CoP Facilitator under supervision of the head of the Secretariat. Ilie Secretariat also coordinates videoconrereces and telecon ference activities between members of CoPs and/or representatives of the developnient partners or experts. Each CoP meeting. CoP leadership mecetings. and every SC meeting will be attended by the Secretarial staff, and after cach meeting the Secretariat will prepare and distribute the draft minutes to the attendees for comment or ~no objection.- The Secretariat shall circulate the final minutes to the appropriate members within 5 days aller each meeting and post them on the website as appropriate. Ili The Secretariat shall also prepare annual PEMNA activity reports on implementation of CoP work programs and annual financial reports on implementation of the PEMNA budget. The Secretariat shall submit these reports to the SC and TTL. For this purpose, the Secretariat shall coordinate closely with CoP facilitators and CoP leadership teams and obtain all relevant information required for drafting reports. Every year. the Secretariat shall submit an annual performance report to the SC on the work perforned, on all inancial matters and on the conclusions reached. In its work, the Secretariat is accountable to the World Bank Task Team Leader for the PEMNA RETF Grant. The entity serves as PEMNA Secretariat is appointed and contracted by the World Bank for the period defined in the contract between the World Bank and the Secretariat. The Secretariat may be subject to an early termination of this Grant Agreement: a. If it requests the GA to be teriminated; b. If the entity is unable to perform its tasks due to permanent loss of capacity to work: c. If, in its work, it does not comply with the regulations or if the staftdoes not implement tie decisions of the Steering Committee without due causes or acts against such; d. If. due to incorrect work, it causes damage to PEMNA or if it neglects or carelessly performs its duties so that disturbances in the functioning of PEMNA arise or could arise: e. If it acts against the regulations on the incompatibility of holding such oflice. 12 ANNEX 3 GRANT OBJECTIVES, ACTIVITIES AND BUDGET A. GRANT OBJECTIVES The Grant objectives are to support the first stage of setting up a network, including establishing network governance structure, encouraging member countries' ownership, supporting development partners' engagement, mobilizing additional resources. and thereby promoting network sustainability. The grant will be used by the Recipient, in its capacity as Secretariat of the PEMNA, in accordance with Terms of Reference (TORs) mutually agreed between the Recipient and the Bank. until such TORs are replaced by TORs approved by the Steering Committee to be established for PEMNA. B. GRANT ACTIVITIES Main activities for the program include (i) establishing a Steering Committee, two Communities of Practice (CoP) in budget and treasury. and a Secretariat: (ii) organizing activities in each CoP through workshops, exchange \ isits. videoconferencing, internet-based interactions, a web-based repository of learning, selective use of outside technical expertise. and other activities: (iii) in\ iting development partners to engage in the program according to their level of interest. Speciic activities implemented by the Recipient using grant funds include: a. To pro\ ide all necessary administrative and logistical support, including all travel arrangements for PEMNA activities including plenary meetings. CoP meetings, learning events. CoP leadership team meetings, and SC meetins: b- To prepare minutes of meetings. distribute them among CoP and SC members and post them on the PEMNA website: c. To conduct monitoring and evaluation of PEMNA activities; d. To prepare and maintain PEMNA archives, including records on PEMNA membership and their contacts, program presentations. minutes of meetings, correspondence, surveys, evaluation results, press releases, newsletters, and to make this information available on the PEMNA website as necessary: e. To update the contents of the PEMNA Nkebsite regularly, both member-only and external sites; f. To establish and administer an online library, including managing documents relevant to P EM NA: g. To facilitate communication between PEMNA network members including through the website; h. To conduct research on PFM issues in the EAP region based on requests from CoPs: i. To prepare budgets for PEMNA activities, implement allocated funds, monitor performance and submit relevant reporting: j. To develop and implement a PEMNA marketing and communication strategy: k. To host and support long-term and short-term work of experts at the Secretariat's oflice: and 1. To perform other duties assigned to it by SC or CoP leadership teams and take any other appropriate initiative aimed at supporting PEMNA objectives and goals. 13 ). BUDGET The Recipient agrees to spend the Grant according to the budget approved Annual Work Plan. Any reallocation among activities in the AWP larger than 15% of the annual budget shall be notified in writing to the Bank ITIL and the PFMNA SC. 14 ANNEX 4 PROGRAM RESULTS FRAMEWORK Program Name: Public Expenditure Management Network in Asia (PEMNA), P129651 Rationale and Objectives of PEMNA Higher-Order Goals 1.1 The goal of PEMNA is to support formation of a sustainable peer network for public tinance practitioners from EAP countries so that they can share professional experiences of implementing PFM reforms. learn from each other, and benchmark their own performance relative to others, to improve own country PFMI S\ stems. Program Develolment Objectives (PDOs) 1.2 The PEMNA Development Objectives are to support the first stage of setting up a network including establishing network governance structure, encouraging member countries' ownership, supporting development partners' engagement, mobilizing additional resources, and thereby promote network sustainabilit\. Main Activities 1.3 Main activities to be executed under this Grant Agreement include: (i) supporting PEMNA Steering Committee, Communities of' Practice (currently for budget and treasury), and Secretariat: (ii) organizing activities in each CoP through workshops, exchange visits. videoconferencing, internet-based interactions, a web-based repository of learning, selective use of outside technical expertise, and other activities: (iii) engaging with development partners in providing support to the netwxork according to their le\ el of interest. Results Framework The conceptUal framework of PEMNA is illustrated in Figure 1 (and in value chain form in Figure 2). The framework proposes four levels of objectives: input objectives, output objectives, the strategic objective, and the outcome objective. Input objectives include: whether the each community of practice (CoP) has a committed membership and a sense of ownership among member countries; sufficient financial and human resources to function; and good governance and administrative support. The output objective is the establishment of a productive, well- functioning and sustainable CoP. The strategic objective is whether members have shared experiences and learned from each other. The ultimate, or outcome objective, is whether the CoPs have contributed to improving country PFM systems. This framework can serve to evaluate progress of the network along those four objectives. 15 PEIMNA participants will develop a sense of belonging to the network, with formal and informal contaet, with positive resuilts with regard to learning and the application of learning, and with a content resource base for use by members. Members will be stimulated by Icarning from others and idenlif their own strengths and challenges of PFM retorms in their own countries, hclp each other to solve similar problems, develop innosative approaches in solving such problems, and thereb) contributing to improve PFM systems in own countries. Figuré . PEMNA Conceptual Franework OUTCOME OBJECTIVE Did the network add value? iproIved PFAf (hndgel and treasun) SVtems S-RATEGIC OBJECTIVE (NETWORK PURPOSE) W{1Ias Ihe network a sucess? Budgct und Ttrcasmy CoP icneis lewrn.firon; caeh othlr-~ OUTPUT OBJECTIVE Was funtioinetilork actually1 pr-oduced? Esablis1n1c1 ofa productive, 1ell-funioning, sustainiable Steering Commintee, CoPs in budget and in t1rCasu- and i secre1wrial INPUT OBJECTIVES We te ecssryinputs pn-ovided io po uantok 7ie PEALV,Ñ xhou/d have S1 connilled mewhershipi with a sense of ownerslhip alnong memibers • Sufficient financial and humnan resources • Good governance arrangements of the two CoPs • Eftetive decisian making by Steering Cannnitee • Funi ioning admnstratie support by a secretariat Figure 2. PEMNA Value Added Chain Effective WILL Produtive, WILL CoP members WILL Improved PFM support for RESULT IN sustainable and RESULT IN Iearningfrom CONTRIBU syStemlis 16 each ColP, well- each other TE TO relevant to CoP committed Functioning areas of membership, Stecring practice, which sufficient Committee. could resources, good CoPs, and contribute to -overnance and Secretariat improved ownership overall PFM systenis In nember countries Development Outcome - Indicator I: Steering Committee is formed with sufficient members and operates as a decision-making body of the network Baseline Values/Conditions: Steering Committee has not yet been established Date measured: 1-Jan-2012 Target Values/Conditions: Steering Committee is formed with sufficient members and is operating as an effective decision-making body of the network Target Measurement. Date: 30-JLIn-20 16 Development Outcome - Indicator 2: Communities of Practice (CoPs) in budget and treasury effectively implement activities that facilitate peer-learning and respond to priority topics and issues of the member countries Baseline Values/Conditions: Two Communities of Practice (CoPs) in budget and treasury have not yet been established Date measured: I-Jan-2012 Target Values/Conditions: Two CoPs are effectively implementing activities that fatcilitate peer-learning and respond to priority topics and issues of the member countries Target Measurement Date: 30-Jun-2016 Development Outcome - Indicator 3: A PEMNA secretariat is formed with sufficient members and provides necessar support to Steering Committee and CoPs Baseline Values/Conditions: A secretariat has not yet been established Date measured: 1-Jan-2012 17 Target Values/Conditions: PEMNA secretariat is fonned with sufticient capacity and is providing necessar- Support to Steering Committee and CoPs Target Measurement Date: 30-Jun-2016 Alonitoring and Evaluation (M& E) The M&E will be unldertaken to assess the impact of the network to the members and member countries. This will be used to understand the value of the peer-learning approach and the use of specific mode of operations. The M&E will assess whether intennediate impact is being obtained through the network and activities in the CoPs and analyze whether these intermediate steps are necessary investments toward the ultimate development objectives. The M&E framework w%ill ask following key questions: * The views of PEMNA members and development partners regarding objectives and expectations of the PIEMNA and its activities, based on the existing survey data: * PEMNA's achievement with regard to relevance, effectiveness, impact. efficiency and sustainability assessed by a set of indicators and measures; * A baseline of PEMNA's achievement results on these five criteria, based in part on discussions with PEMNA members and development partner representatives * Preliminary findings and conclusions based on this baseline assessment * A detailed plan ft firther evaluation of PEMNA during the period until the end of the DGF Grant The Secretariat will implement the M&E mechanism to be instituted as one of the activities of the PEMNA. The secretariat will manage consultants, conduct M&E activities and submit the reports to the PEMNA Steering Committee. The Secretariat will coordinate wxith the Bank TTL and build capacity to manage M&E activities and report to the PEMNA Steering Committee. Regular monitoring will be conducted every year throughout the implementation period and an initial evaluation report will be drafted by June 2015 and final report by September 2016. 18