Project Data Sheet
Project 41152-012
Project Data Sheet
Project 41152-012
| Project Name | Strengthening Public Financial Management Project | ||||
| Project Number | 41152-012 | ||||
| Country / Economy | Bhutan |
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| Project Status | Closed | ||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Governance and capacity development |
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| Sector / Subsector | Public sector management / Public expenditure and fiscal management |
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| Gender | No gender elements | ||||
| Description | The TA will support the Government's initiative to strengthen the institutional capacity of public financial institutions thereby, improving their ability to fulfill their statutory mandates. The impact of the TA is enhancement of budget, treasury, and audit management to support fiscal sustainability and financial management reporting as enumerated under the PFA and the Audit Act. The goal of the TA is to improve effectiveness of budget, treasury, and audit operations to support macroeconomic stability, which contributes to sustainable growth and poverty reduction. | ||||
| Project Rationale and Linkage to Country/Regional Strategy | Vision 2020 aims to ensure the country's future independence, sovereignty, and security through good governance and rapid economic growth. To support Vision 2020's implementation, the Government adopted the Ninth Five-Year Plan (FYP) for fiscal year (FY) 2002-2007, which advocates the adoption of various rules and regulations to encourage economic growth. ADB's Country Strategy and Program (2006-2010) for Bhutan includes two strategic thrusts: (i) lending assistance focusing on transport, power, urban development, and private sector development; and (ii) nonlending assistance for capacity building for sustainable development, including enhancing debt and public resource management capacity. Strengthening RAA has also been mentioned as a key area of required capacity development. The TA is consistent with the second thrust of the Country Strategy and Program (2006-2010) for Bhutan and the Government's Vision 2020. | ||||
| Impact | Enhancement of public financial institutions' capacity, leading to greater transparency and accountability of public accounts, more effective use of public spending, and ultimately fiscal savings | ||||
| Project Outcome | |
|---|---|
| Description of Outcome | Stronger budget, treasury, and audit management in place to support fiscal sustainability principles and financial management reporting requirements as enumerated under the newly-approved PFA |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | 1. Revised financial rules and regulations (FRRs) on Budget Management 2. Effective design and use of multi-year rolling budget framework 3. Effective intergovernmental fiscal transfers framework in place 4. Consolidation of treasury accounts 5. Effective financial management accounting and reporting in place 6. Develop cash management operations framework 7. Training curriculum developed in all aspects of RAA operations, specifically in performance, environment, IT, and financial audits 8. IT systems and processes to improve in-house training capacity of RAA established 9. Established in-house training system for continuous capacity development and staff skill enhancement |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Business Opportunities | |
|---|---|
| Consulting Services | Consulting services required under the TA include 11 person-months of international and 46 person-months of national consultants. 40 person-months of the 46 in total have been identified. Six person-months will be used for short-term expertise on a needs basis. International and national consultants will be mobilized intermittently over a 2-year period. A consulting firm will be selected using the quality and cost-based selection method. The consultants will be recruited in accordance with ADB's Guidelines on the Use of Consultants (2007, as amended from time to time). |
| Procurement | Equipment will be procured in accordance with ADB's Procurement Guidelines (2007, as amended from time to time). At the end of the TA, all equipment will be retained by user agencies. Procurement of network connections and software will be prioritized under the TA, and residual funds will be used for procurement of computers and printers. |
| Responsible ADB Officer | Mukhopadhyay, Hiranya |
| Responsible ADB Department | South Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SARD |
| Executing Agencies |
Ministry of Finance Tshewang Norbu [email protected] Ministry of Finance Ministry of Finance Royal Government of Bhutan Thimphu, Bhutan Attention: Director |
| Timetable | |
|---|---|
| Concept Clearance | 21 Nov 2007 |
| Fact Finding | 01 Nov 2007 to 09 Nov 2007 |
| MRM | - |
| Approval | 14 Dec 2007 |
| Last Review Mission | - |
| PDS Creation Date | 19 Dec 2007 |
| Last PDS Update | 03 Nov 2010 |
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 14 Dec 2007 | 08 Jan 2008 | 08 Jan 2008 | 31 Jan 2010 | 31 Dec 2010 | 30 Jun 2011 |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 750,000.00 | 0.00 | 110,000.00 | 0.00 | 0.00 | 0.00 | 860,000.00 | 17 Jun 2022 | 707,524.76 |