The Ministry of Finance and Economic Affairs (MOFEA) on 9 September
conveyed a stakeholders mid-term review on Institutional Support for Economic
and Financial Governance project II.
Held at the Paradise Suites Hotel in Kololi, the forum brought together actors in the project with the view of reviewing it.
It accorded participants the opportunity to look at the progress made, constraints and gaps to make recommendations to overcome those challenges for better implementation of the project.
The aim of the project is to address human and institutional capacity constraints and weaknesses in public financial management.
It also seeks to help to achieve the establishment of efficient, effective and more accountable use of public resources as a basis for stable macroeconomic environment.
In his official statement on behalf of the minister of Finance and Economic Affairs, the permanent secretary, Modou Ceesay, said the mid-term review marks an important project implementation milestone calendar.
It also provides an opportunity to take stock of their achievements and challenges to inform, redesign and refocus on the project.
He noted that although the size of the project may be considered relatively small compared to other projects, its relevance and impact is huge.
PS Ceesay noted that the project, which focuses on good economic and financial governance, helps to create an environment conducive for macroeconomic stability and build strong institutions and legal framework to attract private sector investment and employment creation.
The project’s operations in the last two and half years have contributed immensely towards the path of development and have pushed the frontiers of PFM reform agenda forward, he said.
He said further the project was officially launched in December 2011 after its signing in October 2011.
The beneficiaries of the project include the Ministry of Finance and Economic Affairs, the National Audit Office and the Finance and Public Accounts Committee of the National Assembly, he added.
The PS further highlighted some of the achievements of the project, which include twenty-eight officials from institutions that have benefited from overseas capacity building programme in different disciplines in the form of training, study tours and conferences.
In addition, the project through the partnership arrangement with Management Development Institute has trained sixty-three officials drawn from various government institutions in different PFM-related modules.
