World Bank2014-08-202014-08-202007-11https://hdl.handle.net/10986/19541The Organization of Eastern Caribbean States (OECS) face special development challenges, including limited institutional capacity, high per capita costs of basic social and infrastructure services, and vulnerability to natural disasters and other external shocks. This note identifies specific issues related to financial management and procurement. This note focused on the implications of differing donor practices for financing capital projects in a generally weak institutional and implementation environment for capital projects. The quality of implementation is also affected by a lack of adequate project management skills. The objective of this Policy Note is to increase the efficiency of capital investment project implementation in the OECS countries by (i) contributing to a more efficient use of limited institutional and human resource capacity, (ii) lowering transaction costs, and (iii) optimizing the use of public funds, while (iv) maintaining a robust control framework. The OECS economies are highly dependent on donor assistance for funding investment projects. This note identifies opportunities for sequential mainstreaming of fiduciary functions (financial management and procurement) and for a gradual approach to using mechanisms. The OECS countries' current efforts to rationalize institutional arrangements for capital projects by consolidating implementing entities or further mainstreaming implementation within existing structures in line ministries are consistent with the recommendations of the Country Program Quality Enhancement Review conducted by the World Bank in 2004.en-USCC BY 3.0 IGOACCOUNTABILITYACCOUNTINGACCOUNTING SYSTEMACCOUNTING SYSTEMSACTION PLANADMINISTRATIVE BURDENADMINISTRATIVE COSTSANNUAL BUDGETANNUAL PERFORMANCEAUDITINGAUDITORAUDITORSAUDITSAUTOMATIONBACKBONEBANK ACCOUNTSBIDDINGBORROWINGBUDGET ACCOUNTSBUDGET DIRECTORBUDGET ESTIMATESBUYERCAPABILITIESCAPACITY BUILDINGCAPACITY CONSTRAINTSCAPACITY-BUILDINGCAPITAL BUDGETCAPITAL BUDGETSCAPITAL EXPENDITURESCAPITAL INVESTMENTCAPITAL PROJECTSCASH MANAGEMENTCIVIL SERVANTSCIVIL SERVICECIVIL SOCIETYCIVIL SOCIETY ORGANIZATIONSCOMMODITIESCOMPETITIVENESSCONSOLIDATIONCONSTRAINED ENVIRONMENTCONTRACTUAL OBLIGATIONSCONTRIBUTIONSCOORDINATION MECHANISMSCOST ESTIMATESCOST OF CAPITALCOST-EFFECTIVENESSCOUNTERPART FUNDINGCOUNTERPART FUNDSCOUNTRY PROCUREMENTCOUNTRY PROCUREMENT ASSESSMENTCURRENT PLANCURRICULACURRICULUMDEBTDEPOSITDEVELOPMENT BANKDISBURSEMENT OF FUNDSDISTANCE LEARNINGDISTANCE LEARNING NETWORKDISTANCE LEARNING NETWORKSDOCUMENT REQUIREMENTSDONOR AGENCIESDONOR ASSISTANCEDONOR COORDINATIONDONOR FUNDINGDONOR FUNDSEASTERN CARIBBEAN CENTRAL BANKECONOMIC DEVELOPMENTECONOMIC MANAGEMENTECONOMIC POLICYECONOMIES OF SCALEEXPENDITUREEXPENDITURE CATEGORIESEXPENDITURE CLASSIFICATIONEXTERNAL SHOCKSFIDUCIARY FUNCTIONFIDUCIARY REQUIREMENTSFIDUCIARY RESPONSIBILITIESFINANCIAL ACCOUNTABILITYFINANCIAL CONSTRAINTSFINANCIAL INFORMATIONFINANCIAL MANAGEMENTFINANCIAL MANAGEMENT SYSTEMSFINANCIAL REPORTSFINANCIAL SUPPORTFISCAL CONSTRAINTSFOREIGN CURRENCYFRAUDFUNCTIONALITIESFUND MANAGERGOVERNMENT ACCOUNTINGGOVERNMENT ACCOUNTSGOVERNMENT BUDGETGOVERNMENT OFFICIALSGOVERNMENT SPENDINGGOVERNMENT STRUCTURESHARMONIZATIONHOUSINGHUMAN CAPACITYHUMAN RESOURCEHUMAN RESOURCE CAPACITYHUMAN RESOURCESIMPLEMENTING AGENCIESIMPLEMENTING AGENCYINCOMEINFORMATION SYSTEMSINFRASTRUCTURE PROJECTSINFRASTRUCTURE SERVICESINITIATIVEINSTALLATIONINSTITUTIONINSTITUTIONAL CAPACITYINTERNAL AUDITINTERNATIONAL STANDARDSINTERNATIONAL TRADEINVESTMENT ACTIVITIESINVESTMENT DECISIONSINVESTMENT PROGRAMINVESTMENT PROGRAMSJUSTICELABOR MARKETLACK OF INFORMATIONLATE PAYMENTSLAWSLEGAL FRAMEWORKSLEGISLATIONLENDERSMAINTENANCE COSTSMARKET CONDITIONSMARKET PRICESMEDICAL SUPPLIESMEMBER COUNTRIESMINISTERMINISTRY OF FINANCENATIONAL DEVELOPMENTNATURAL DISASTERSNETWORK INFRASTRUCTUREORGANIZATIONAL STRUCTURESOVERSEAS TRAININGPEER REVIEWPHYSICAL INFRASTRUCTUREPOLICY DECISIONSPORTFOLIO PERFORMANCEPRIVATE SECTORPRIVATE SECTORSPROCUREMENT FUNCTIONPROCUREMENT POLICYPROCUREMENT PROCESSESPRODUCTIVITYPROGRAM MANAGEMENTPROGRAMSPROJECT MANAGEMENTPROTOTYPEPUBLIC ACCOUNTSPUBLIC EDUCATIONPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC EXPENDITURE SYSTEMSPUBLIC FINANCEPUBLIC FINANCIAL MANAGEMENTPUBLIC FUNDSPUBLIC HEALTHPUBLIC SECTORPUBLIC SECTOR MANAGEMENTPUBLIC SECTOR PROCUREMENTPUBLIC SECTOR REFORMPUBLIC SERVICEPUBLIC SERVICE DELIVERYPUBLIC WORKSPURCHASESQUALITY ASSURANCEREGIONAL TECHNICAL ASSISTANCEREMEDYRESOURCE CONSTRAINTSRESPONSIBILITIESRESULTRESULTSRISK MANAGEMENTSALARYSAVINGSSECTOR MINISTRIESSENIORSERVICE PROVIDERSSOLICITOR GENERALSUPERVISIONSUPREME AUDIT INSTITUTIONSTECHNICAL ASSISTANCETECHNICAL ASSISTANCE PROJECTTECHNICAL DEPARTMENTSTECHNICAL SUPPORTTELECOMMUNICATIONSTIGHT FISCAL SITUATIONTRAINING PROGRAMSTRANSACTIONTRANSACTION COSTSTRANSPARENCYTRANSPORTTRANSPORTATION INFRASTRUCTURETRUST FUNDSUSERSUSESVALUABLEWORLD MARKETSWORTH10.1596/19541