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Malawi - Public finance management institutional support project, phase two (pfmisp ii) - PCR
The Project’s developmental objective was satisfactorily relevant to the priority needs of the country as it sought to address the Public Finance Management (PFM) weaknesses that led to the massive plunder of public funds uncovered in September 2013 commonly known as ‘Cash gate’. It contributed to the implementation of Government’s broader Public Finance and Economic Management Reform Programme (PFEMRP, 2011-2016) and complemented the PFM Multi-Donor Trust Fund (MDTF) administered by the World Bank under the US$ 19 million Financial Reporting and Oversight Improvement Project (FROIP). FROIP sought to improve internal controls, accounting, reporting and oversight of government finances at both the central and decentralised levels.