Chad Secures US$10 Million in Financing to Support Modernization of its Public Finance System
Published May 24th, 2007 in UncategorizedContacts:
In
In N’Djamena:
The Bank project will support implementation of the Government’s project known as the Capacity Building for Modernization of Public Financial Management Project (PAMFIP), the duration of which will be five years and targets enhanced efficiency and transparency in the use of public resources, in particular oil revenue.
This World Bank grant of US$10 million (the equivalent of CFAF 5 billion) will enable the Government of Chad to improve budget preparation and execution as well as public finance oversight. Working in collaboration with other external partners, the project will mainly finance the reorganization of financial services, the review of budgetary and financial regulations as well as public finance methods and procedures, the strengthening of management tools, in particular the computerized expenditure chain, and the development and training of the human resources working in the area of public finance management.
Project activities will impact all State financial services (Ministries of Finance and those coordinating the priority sectors) as well as administrative, legislative, judicial, and ad hoc oversight units.
The expected outcome is that the Government of Chad will have in place a more efficient public finance management system that can allow it to achieve its aspirations in the areas of good governance and poverty reduction.
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