Project Notice |
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| PNR | 574 |
| Project Name | Modernization of Public Finance Management |
| Project Detail | The development objective of the Modernization of Public Finance Management (PFM) Project for Myanmar is to support efficient, accountable, and responsive delivery of public services through the modernization of Myanmar's PFM systems and strengthening institutional capacity. The project has five components. The first component will support developing systems and procedures for capturing more revenues from natural resource sectors on-budget and addressing identified weaknesses in tax administration. This component will be closely linked to government implementation of the extractive industries transparency initiative and will support the development of the business processes and corresponding reporting and recording systems to move revenues on-budget. The second component is aimed at supporting the new mandates of the budget and planning departments and the evolving decentralization process in Myanmar. To help inform decisions and debate on budgetary allocations, this component will also work towards improving the quality and timeliness of information available both internally and externally through basic computerization of current manual compilation process for the current and investment budgets. The third component, support for effective budget execution will focus on the establishment and effective operationalization of the treasury department, creating an effective procurement function, and building the ability of Myanmar Economic Bank (MEB) to manage the state fund account in order to ensure business continuity in view of the Central Bank of Myanmar (CBM) separation from the Ministry of Finance (MOF). The fourth component will strengthen Myanmar's nascent structures for external oversight and accountability and thus complement improvements in the quality and transparency of budgetary information. It has following two sub-components: (i) supporting the parliamentary public accounts committee; and (ii) enhancing operational effectiveness of the auditor general's office. The fifth component aims to address the specific challenges faced by Myanmar with respect to the skills required to operate a modern public financial management system. The project will support the establishment of a PFM academy that will serve as a nucleus for developing and facilitating provision of just in time, on the job, operational training within a sustainable framework. Closing Date: September 30, 2019. Total Project Cost: US$ 55.00 million. |
| Funded By | World Bank (WB) |
| Sector | Financial Services |
| Country | Namibia , Southern Africa |
| Project Value | Plz Refer Document |
Contact Information |
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| Company Name | MINISTRY OF FINANCE AND REVENUE |
| Address | Building: No 46, Naypyidaw, Tel: 95-67-430001, Fax: 95-67-430014. |
| Web Site | www.irdmyanmar.gov.mm/eng |
