Governance, Economic and Financial Management Department (OSGE)

The Governance, Finance and Economic Management Department (OSGE) comprises the Finance Division and the Economic Mangement Division.  This organization reflects a two-pronged approach to to strengthening national systems for managing public resources, particularly oversight institutions and accountability systems (financial management), and promoting a sound business environment that encourages private investment to support pro-poor growth (economic management).  

The approach thus supports countries, sectors, such as infrastructure, a key area for Bank intervention, and the region.  Sectors, by addressing systemic issues through robust regulatory frameworks that enable efficient public-private partnerships; the Extractive Industries Transparency Initiative is another example of putting good governance to work so that countries can maximize the benefits of extracting non-renewable natural resources.  The region and sub-region, by supporting initiatives that promote standards and codes of good economic and financial governance such as the African Peer Review Mechanism, the Collaborative Africa Budget Reform Initiative (CABRI), and pan-African initiatives that share best public procurement practices through the Common Market for Eastern and Southern Africa (COMESA).