MDF

Project Overview
Background

Public Financial Management Multi Donor Fund (PFM-MDF) Project was instituted in 2017.It is
a five-year project. The main objective of the project is to contribute to further improvement in
the efficiency, accountability and transparency of PFM systems in Bhutan, building upon the
reforms already undertaken and furthering the reforms that are in process of implementation.The
project aims to support the RGoB’s priority areas and key gaps identified in the 2016 PEFA
assessment.
The project is funded by the European Union (EU) and the Austrian Development Agency
(ADA). The PFM-MDF is administered by the World Bank. The DPA is the coordinating agency
for implementation along with other Implementing Agencies which include the PPD, PMDD,
DNB, DRC, CCA, DMEA, HRD in the MoF, AASBB, RAA and the two Parliamentary
Committees.


Project Components:
The project has 2 components with sub-components:


Component 1: Strengthening PFM Legal and Institutional Framework
This component will support the RGoB’s objective of strengthening tax collection and budget
documentation through the following sub-components:
Sub-component 1a: Setting the legal and operational environment and developing a roadmap for
the GST Introduction.
Sub-component 1b: Improving Budget documentation, analysis and classification through
enhanced focus on gender and climate change.


Component 2: Strengthening Budget Execution and Oversight Capacities
This component has four sub-components:
Sub-component 2a: Strengthening Public Procurement Systems including automation
The activities under this component are Design and Implementation of Electronic Government
Procurement (eGP).
Sub-component 2b: Improving Accounting and Reporting Systems
The objective of this component is to enhance financial management systems and standards in
order to promote good financial management in the public service. This component will support
the following activities:
i) Strengthening of PFM processes and information systems and their integration for
moving towards IFMIS
ii) Implementing cash basis IPSAS
Sub-component 2c: Strengthening Internal Controls and Accountability Institutions
This component will support the following activities:
i) Enhancing Internal Audit Effectiveness
ii) Supporting AASBB on implementation of accounting and auditing standards and
establishment of professional accountancy organization
iii) Capacity Building of Parliamentary Committees
Sub-component 2d: Capacity development in PFM


This sub-component will support capacity building in PFM of RGoB officials deputed at national
and sub-national levels across the country, with adequate participation of women officials.
Project Beneficiaries
The key beneficiaries of the project will be the MoF and its Departmentsand oversight bodies
like the Royal Audit Authority (RAA),and the Parliamentary Committees (Economic&Finance
Committeeand Public Accounts Committee)

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