Europe and Central Asia Knowledge Brief

67 items available

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https://hdl.handle.net/10986/9405
This is a regular series of notes highlighting recent analyses, good practices, and lessons learned from the development work program of the World Bank’s Europe and Central Asia Region.

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Topic: Finance and Financial Sector Development × Topic: Macroeconomics and Economic Growth × Subject: ACCOUNTABILITY × Subject: ACTION PLAN × End date: 2012 × Supported Language: en × Region: Europe and Central Asia × Has files: true ×

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    Accountability in State Noncommercial Organizations in Armenia : An Approach
    (World Bank, Washington, DC, 2012-09) Vatyan, Arman
    A World Bank-supported project in Armenia was successful in developing a control framework that balances the need to increase the transparency and accountability of the country s state noncommercial organizations (SNCOs), while also recognizing their financial, administrative, and managerial independence. An innovative approach involving the use of earlier results to guide later ones was used to address the dire need for SNCOs, which account for 70 percent of the total number of state organizations, to make greater efforts to responsibly administer and safeguard the government s assets. The aim was to reduce the market distortions caused by SNCOs that are engaged in significant commercial activities by addressing SNCOs heterogeneity and the need for specific fiduciary control requirements for distinct groups.