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Maldives - Public Financial Management Systems Strengthening Project (English)

The objective of the Public Financial Management Systems Strengthening Project for Maldives is to enhance budget credibility, transparency, and financial reporting of central government finances. There are three components to the project, the first component being strengthening the PFM environment. The objective of this component is to set the foundation and create an enabling environment for a sound PFM system. This component will have three subcomponents: strengthening the legislative and institutional PFM framework, enhancing the macro fiscal framework, and strengthening medium-term debt management. The second component is the strengthening budget execution. The objective of this component is to improve the efficiency of resource utilization and the credibility, comprehensiveness, and timeliness of financial reporting. There will be two subcomponents: strengthening the public accounting system, and improving the control environment. Finally, the third component is the project management. The objective of this component is to provide support to MOFT for coordination, monitoring, administration, communications, change management, financial management, and procurement of the project required for successful implementation of the project activities. The project management component will finance the costs of (a) an international management implementation support consultant and local consultants for project coordination and monitoring and evaluation (M&E) activities, (b) a FM consultant, and (c) any relevant training required to strengthen the skills of the project coordinating staff and other incremental operating costs relating to project coordination.

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Maldives - Public Financial Management Systems Strengthening Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/771641468052457766/Maldives-Public-Financial-Management-Systems-Strengthening-Project