Integrated Fiduciary Assessment

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Integrated Fiduciary Systems Assessment : Ethiopia ULGDP II Program for Results

(Washington, DC, 2014-03-18) World Bank

Ethiopia is a country of many nations, nationalities, and peoples, with a total population of 91.7 million. Ethiopia has experienced strong economic growth over the past decade. Urbanization offers new opportunities in Ethiopia to improve education, health, and other public services, as more concentrated populations are easier to reach. In this context, the Government of Ethiopia (GoE) acknowledges the important role of the urban sector in overall economic growth and to invest in it. In this context, the government introduced the urban local government development program (ULGDP) in 2008 as a performance grant to ULGs. This second ULGDP is a follow-up to the successful first phase. The current ULGDP is jointly funded by the government and the World Bank. The program, which will scale up the support to cover 44 cities, will provide the highly needed investment funds to promote the cities as growth engines in the GoE's urban development strategy, support the institutional capacity of all tiers of governance (federal, regional and local) in urban development, and enhance the incentives of everyone involved.
Mozambique PFM for Results Program : Annex 5. Integrated Fiduciary Systems Assessment

(Washington, DC, 2014-01) World Bank

In preparation for the Public Financial Management (PFM) for Results Program, a Fiduciary Systems Assessment (FSA) covering financial management (FM), procurement, and fraud and corruption was conducted. The principles governing fiduciary management for Program-for-Results are set out in OP 9.00. In line with the PforR Guidance Note, the FSA reviews the adequacy of the applicable rules, procedures, and oversight mechanisms for the Program and the effectiveness of their implementation by the concerned agencies (including both the capacity and the performance). The conclusion of the assessment is that the Program fiduciary systems meet OP 9.00 requirements, and provide a reasonable basis for this PforR operation. However, the current risk-rating is substantial, which requires specific mitigation measures.
Fiduciary Systems Assessment : Ethiopia Health MDG Support - Program for Results

(Washington, DC, 2012-10-29) World Bank

This health millennium development goals (MDGs) program for results (PforR) operation contributes to Ethiopia's fourth health sector development program (HSDP-IV) objectives by disbursing against achievement of a subset of its key results. MDG performance fund (PF) supports a sub set of key priorities for HSDP-IV. The three areas that the MDG PF supports are: (i) maternal health, (ii) child health, and (iii) strengthening health systems. The presented P4R operation will provide 100 million dollars International Development Association (IDA) funding for the MDG PF provided agreed results have been achieved and have been verified. The IDA credit will be complemented by a United States (U.S.) 20 million dollars grant under the health results innovation trust fund (HRITF). The assessment examined program expenditure framework to determine whether it is comprehensive, clearly defined, and determination whether it is part of the borrower's budget and financial management processes. It also focused on key elements of program procurement arrangements. The key risks identified by the integrated fiduciary systems assessment arise from the performance of the pharmaceutical fund and supply agency (PFSA), which is critical for PforR operation, and responsible for procuring and distributing most of the health products required for producing the results. The assessment concludes that the examined program financial management and procurement systems are adequate to provide reasonable assurance that the financing proceeds will be used for intended purposes, with due attention to principles of economy, efficiency, effectiveness, transparency, and accountability and for safeguarding program assets.
Republic of South Sudan : Country Integrated Fiduciary Assessment Southern Sudan, Volume 1. Main Report

(Washington, DC, 2012-06) World Bank

The purpose of this Country Integrated Fiduciary Assessment (CIFA) is: (i) to assess the quality of public finance management and procurement systems in South Sudan; and (ii) to then determine the extent of fiduciary risk posed to domestic and external tax payers by the government's use of their funds through these systems. South Sudan has great potential for further increases in living standards, but achieving them will require large improvements in public services, both in access and in quality. In turn, Public Finance Management (PFM) and procurement systems need to be strengthened in order to improve public services; this will require linking spending more tightly to policy objectives and strengthening the operational efficiency of expenditures. In sum, strengthened PFM and procurement systems are not an end in themselves but, rather, the necessary means to achieving the ultimate objective: improved service delivery in South Sudan. This CIFA will be used by the Government of the Republic of South Sudan (GRSS) and by the country state governments to inform their design or reforms of PFM and procurement systems and, in the case of development partners, to inform their design or revision of technical and financial assistance programs and projects in support of the reforms.
Pakistan, Sindh Province - Baseline Indicators System : Baseline Procurement Performance Assessment Report

(World Bank, 2009-09-18) World Bank

This document provides an assessment of the public procurement system in Sindh province using the baseline indicators system developed by the Development Assistance Committee of the Organization for Economic Cooperation and Development (OECD-DAC). This assessment, interviews and discussions were held with stakeholders from the public and private sectors as well as civil society. Developing country governments and donors have a mutual interest in increasing the effectiveness, efficiency, and transparency of procurement systems. Both have worked together under the auspices of the World Bank and OECD-DAC procurement round table initiative to develop a set of tools and standards to support and guide improvements in procurement systems. These tools include: (i) benchmarking for assessing the structure of public procurement systems, and (ii) monitoring and evaluation of public procurement systems. A key analytical tool developed for benchmarking is the baseline indicators system which comprises four pillars: 1) the legislative and regulatory framework; 2) institutional framework and management capacity; 3) procurement operations and market practices; and 4) integrity and transparency of the public procurement system.
Montenegro : Public Expenditure and Financial Accountability Assessment

(Washington, DC, 2009-07) World Bank

The purpose of the assessment is to provide the Montenegrin authorities with an internationally-recognized benchmark evaluation of the performance of the Montenegrin Public Financial Management (PFM) systems in order that they may thereafter consider the systems' strengths and weaknesses and develop strategies to strengthen them. The assessment comes at a critical juncture. After double-digit growth in 2007, economic growth has slowed considerably. On the fiscal side, the boom contributed to fiscal surpluses which cannot be sustained in the current economic climate and additional challenges in fiscal management have emerged. The potential to contain recurrent expenditure and implement institutional reforms on the integration path will require increasing efficiency in public administration. The management of the surge in tax and other revenues represented a special challenge for the government particularly given the significant revenues realized from the-one-off foreign investment in privatized state-owned enterprises. The level of public debt, which had steadily decreased over the past few years will be more difficult to contain, particularly in view of the highly pro-cyclical nature of economic policies. The PEFA assessment focuses primarily on the national level of a country's PFM system. PFM improvements now under consideration could contribute substantially in responding to those challenges.
India - Himachal Pradesh Public Financial Management Accountability Assessment

(World Bank, 2009-06-01) World Bank

The objective of this indicator-led analysis is to provide an integrated assessment of the Public Financial Management (PFM) system of the Government of Himachal Pradesh (GoHP). The analysis draws on the International Monetary Fund fiscal transparency code and other international standards. The analysis proposes to measure and benchmark PFM performance of the state across a wide range of developments over time. The findings are expected to contribute towards strengthening and implementation of the state's PFM reform strategy and in defining priorities and may serve as a baseline against which progress on PFM performance can be measured over time. The thirty-one indicators for the state's PFM system focus on the basic qualities of a PFM system, linking to existing good international practices. Assessments are classified as A (excellent), B (good), C (opportunities for some improvement), and D (in need of improvement in some areas). The indicators cover: 1) the results of the PFM system in terms of actual expenditures and revenues by comparing them to the original approved budget, as well as the level of and changes in expenditure arrears; 2) transparency and comprehensiveness of the PFM system; 3) the performance of the key systems, processes and institutions in the budget cycle; and 4) the elements of donor practices which impact the performance of the PFM system.
Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Core Report

(World Bank, 2009-01-02) World Bank

Mongolia's external economic outlook is dramatically changing as it faces sharp reductions in the copper price, caused by the financial crisis and global downturn. This compels the government now to drastically cut spending to prudently manage the budget. The budget is extremely dependent on mining revenues. Government is taking the right step in proposing a balanced budget for 2009. But further adjustments will be needed given the continuing fall in copper prices. A prudent fiscal stance will also be needed to manage inflation, which accelerated in the past year to over 30 percent. The current situation highlights the need to manage mining revenues better than in recent years. Mongolia saved little during the boom years, but instead dramatically increased expenditures on wages and salaries, and poorly-targeted social transfers. Adopting a multi-year fiscal framework-which enforces saving during the boom years, sets limits to expenditure growth and debt, and ensures transparency to the public-can help. Since much of the past windfall revenues have been spent, the country enters the down-turn with little savings and high inflation, forcing it to cut expenditures with every drop in the copper price. To avoid such situations in the future, the government has the opportunity to adopt a transparent, multi-year budget framework for expenditures and investment. This includes adopting a new fiscal responsibility law. It will ensure that the government saves during the 'boom' years, so that it can continue to spend during the 'bust' years. It will also set limits to expenditure growth and public debt. Within the limits set by this framework, parliament can then exercise its constitutional rights to amend the budget.
Mongolia - Consolidating the Gains, Managing Booms and Busts, and Moving to Better Service Delivery : A Public Expenditure and Financial Management Review - Annexes

(World Bank, 2009-01-02) World Bank

Mongolia's external economic outlook is dramatically changing as it faces sharp reductions in the copper price, caused by the financial crisis and global downturn. This compels the government now to drastically cut spending to prudently manage the budget. The budget is extremely dependent on mining revenues. Government is taking the right step in proposing a balanced budget for 2009. But further adjustments will be needed given the continuing fall in copper prices. A prudent fiscal stance will also be needed to manage inflation, which accelerated in the past year to over 30 percent. The current situation highlights the need to manage mining revenues better than in recent years. Mongolia saved little during the boom years, but instead dramatically increased expenditures on wages and salaries, and poorly-targeted social transfers. Adopting a multi-year fiscal framework-which enforces saving during the boom years, sets limits to expenditure growth and debt, and ensures transparency to the public-can help. Since much of the past windfall revenues have been spent, the country enters the down-turn with little savings and high inflation, forcing it to cut expenditures with every drop in the copper price. To avoid such situations in the future, the government has the opportunity to adopt a transparent, multi-year budget framework for expenditures and investment. This includes adopting a new fiscal responsibility law. It will ensure that the government saves during the 'boom' years, so that it can continue to spend during the 'bust' years. It will also set limits to expenditure growth and public debt. Within the limits set by this framework, parliament can then exercise its constitutional rights to amend the budget.
Country Financial Accountability Assessments and Country Procurement Assessment Reports : How Effective Are World Bank Fiduciary Diagnostics?

(Washington, DC, 2008-04) World Bank

World Bank analysis of a country's public financial management system is typically undertaken both to help the client country strengthen its system and to safeguard funds that the Bank provides against misuse, and is an important component of fiduciary diagnostics. The Bank's instruments for such analysis have generally been relevant; the resulting diagnostics have been of satisfactory quality and have fostered reform agendas in client countries. Country Financial Accountability Assessments (CFAAs) have contributed substantially, and Country Procurement Assessments Reports (CPARs) modestly, to development outcomes in a sample of 10 countries examined. Client consultation and donor collaboration in the preparation of CFAAs and CPARs have been increasing, but internal Bank coordination among the three sets of units dealing with public financial management has lagged, resulting in fragmented action plans for clients. Both instruments have had a more limited effect on managing risks to Bank assistance, owing to the lack of a sound analytical framework for assessing fiduciary risks and of associated guidance on how identified risks should be reflected in the design of country assistance strategies. The evaluation recommends: (i) ensuring that fiduciary instruments use an integrated risk analytical framework that includes a common approach to defining fiduciary risk; (ii) issuing revised guidelines along with implementing an integrated training program for relevant staff; and (iii) supporting the client in preparing a single integrated, prioritized, costed, and monitorable set of actions within an agreed framework for Public Financial Management (PFM) reform.