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The Board of Directors of the ADF approved in Tunis on Wednesday, a grant of 790,000 Units of Account (UA*); equivalent to 1.2 million US dollars to finance Institutional Support to the Ministry of Finance and Development Planning (MOFDP) and the Ministry of Public Works and Transport (MOPWT).
The goal of the project is to contribute to building capacity of the public service system to implement the Government of Lesotho’s Poverty Reduction Strategy objectives. The specific objectives are to strengthen: (i) the (GOL) Government of Lesotho’s capacity in planning as well as financial and budget management; and (ii) the capacity of Ministy of Public Works and Transport (MOPWT) to manage the road system.
The Projects involves:
- The training of staff in the Ministry of Finance and Development Planning (MOFDP) and the planning units in the line ministries in areas of project analysis, monitoring and evaluation, project appraisal and capital budgeting.
- Improving the capacity of staff in the Ministry of Works and Transport (MOPWT) in area of policy formulation, project management, environmental management, budgeting and financial management
- The provision of IT hardware to the MOFDP and associated units in other ministries.
The overall cost of the project is estimated at 830,000 UA, equivalent to 1.24 million US dollars
The ADF grant will finance 95 % of the total cost of the project. The government will finance the remaining 5% or 40,000 UA (60,000 USD).
The Bank Group's operations in Lesotho started in 1974. To date, the Group has committed a total of 266.07 million US dollars on 39 operations.
PROJECT INFORMATION SHEET
- Project Title Institutional Support to the Ministry of Finance and Development Planning and the Ministry of Public Works and Transport
-Grant Beneficiary: Government of the Kingdom of Lesotho
-Executing Agency: Ministry of Finance and Development Planning P.O. Box 630Maseru 100, Lesotho- Tel: +266 22-311100 Fax: +266 22-310281
- Starting Date & Duration - April 2005 for 36 months
*1 UA =1 .49878 $US as at 01/11/2004