Other Financial Accountability Study

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    Improving Transparency and Accountability in Public-Private Partnerships: Disclosure Diagnostic Report - Kenya
    (World Bank, Washington, DC, 2018-05) World Bank
    Based on research and analysis over the past few years, the World Bank Group Public-Private Partnerships (PPP) Cross-Cutting Solution Area has worked on creating a Framework for Disclosure in Public-Private Partnerships, which suggests a systematic structure for disclosing information proactively at different phases of the PPP process. Two documents, Jurisdictional Studies and Good Practice Cases, have been developed to provide relevant background and resources complementing the goals of the framework. The framework suggests the initiation of work with a PPP Disclosure Diagnostic in countries. The objective of the Diagnostic is to help PPP policy makers and practitioners to assess the status of PPP disclosure in the jurisdiction and identify customized PPP disclosure solutions for all PPP types to enable better disclosure. Under each of the areas identified, the Diagnostic provides the key questions policy makers and practitioners should ask, analysis and techniques for assessing gaps, resources for learning more, and tools for establishing customized PPP disclosure guidelines for the jurisdiction. The relevance of each of the above areas varies based on the unique circumstances within the country. This diagnostic report is structured around the key themes that are relevant to Kenya’s disclosure environment.
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    Inclusive and Effective Citizen Engagement: Participatory Budgeting--Makueni and West Pokot Counties
    (World Bank, Washington, DC, 2017-05-01) World Bank Group
    The introduction of citizen engagement into law is an idea that is gaining popularity around the world. New provisions in Kenya’s Constitution enshrine openness, accountability, and public participation as guiding principles for public financial management. Yet, translating participation laws into meaningful action on the ground is no simple task. With support from the Kenya participatory budgeting initiative (KPBI), and the commitment from West Pokot and Makueni County leaders, PB is being tested as a way to achieve more inclusive and effective citizen engagement processes while complying with national legal provisions. This report describes the PB approach being adopted by Makueni and West Pokot counties. It seeks to provide detailed information on the step by step process that the two Counties have adopted and describes the support provided by the KPBI. At the national level, the report is mostly targeted towards PB practitioners and county officials interested in introducing PB as part of their budgeting cycle. The report seeks also to inform a wider audience of PB and citizen engagement practitioners on the Kenyan experience to date.
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    Rwanda Diagnostic Review of Consumer Protection and Financial Literacy: Private Pensions and Securities, Volume 2. Comparison with Good Practices
    (World Bank, Washington, DC, 2015-11) World Bank
    This review of consumer protection and financial literacy (CPFL) in the private pensions and securities sectors in Rwanda complements the 2013 review of Rwanda’s banking, microfinance, and insurance sectors. As noted previously, the institutional elements of the formal financial sector in Rwanda are in place but the levels of financial inclusion are still low. The government pension scheme covers less than 3 percent of the population, and the voluntary private pension funds cover less than 1 percent. The new Pensions Law in Rwanda introduced a comprehensive regulation of the private pension funds, providing a basis for sound consumer protection and opening opportunities for growth, and yet some CPFL issues still need to be addressed. The securities market lists only 7 equities and 9 bonds, capitalized at 27 percent of GDP. The 2011 laws on capital markets regulation introduced a sound regulatory framework that is not yet complete nonetheless and requires stronger investor protection. The key findings and recommendations of the Review – presented in Volume 1 of 2 – detail the main CPFL challenges and the suggested high priority remedies. The full list of recommendations is presented in the annexes. Volume 2 provides a detailed assessment of CPFL in both the private pensions and securities sectors against the international best practices summarized in the World Bank Group’s good practices for financial consumer protection and financial literacy/capability.