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Grant of $ 5 million from World Bank to Sudan to improve public finance management

By Tajuddin
In BUSINESS
Sep 27th, 2016
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Minister of Finance and Economic Planning of the Republic of Sudan, Badr-Eddin Mahmoud Abbas

Minister of Finance and Economic Planning of the Republic of Sudan, Badr-Eddin Mahmoud Abbas

Khartoum, Sudan (SUNA + DIPLOMAT.SO) – A grant agreement worth $ 5 million from the World Bank was signed Monday at the Ministry of Finance and Economic Planning for the improvement of public finance management at the state level in Sudan in four states including the Red Sea, the River Nile, Sennar and North Kordofan.

The Minister of Finance and Economic Planning Badr-Eddin Mahmoud Abbas signed on behalf of the Government of Sudan whereas the Interregional Director for Sudan and South Sudan Caroline Turki signed for the World Bank.

The project is to be funded from Sudan multi-donor fund being administered by the World Bank with funding from the British Department for International Development and the Norwegian cooperation. It aims to develop the efficiency and the accounting of the public finance management and the improvement of transparency systems in the management of public money as to contribute to the reduction of corruption opportunities.

The finance minister said that the project of the finance management improvement of the four selected states will enable them to gain valuable experience in public finance management to enable Sudan to address the challenges associated with economic transformation.

He added that Britain’s International Development Office has been working in Sudan a long time ago, affirming Sudan’s commitment to its contributions with development partners, calling for the writing off of Sudan foreign debt.

The minister explained that the grant would work to strengthen the financial management at the states to help the financial administration along with the work to assist in the wealth-sharing at the states by improving the conditions, principles and standards.

For her part, Caroline Turkish, the Interregional Director for Sudan, Ethiopia and South Sudan at the World Bank explained that the project supported the financial sector in the Government of Sudan in the four selected states and worked to strengthen the capacity of state financial institutions in the areas of budget preparation, its implementation and its control of dispensing.

Meanwhile, Christopher Beecroft, the Director of the Office of the British Department for International Development to Sudan, pointed out to the Britain’s support to the Sudanese government to improve the use of its resources to strengthen public financial management, adding that the project will enable the states to mobilize more revenue and direct a larger share of their resources to the activities of poverty reduction, pointing out that this project represents last additions to the World Bank’s growing program in Sudan, which its projects cover a wide range of domains including education, health, agriculture, natural resource management, climate change, peace-building, public finance administration.

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