Tunis, 27 October 2006 – The Board of Directors of the African Development Fund (ADF) approved on Friday in Tunis, a grant of 3 million Units of Account (UA*), equivalent to US$ 4.4 million to finance good governance, economic management and poverty reduction in Liberia.
The objective of the project is to develop competencies and skills of public servants in macro-fiscal policy analysis and formulation, revenue collection and monitoring; budget preparation, monitoring and execution. The project also deals with national and sector strategy, project planning and programming as well as monitoring and the evaluation of their implementation. It will also support the preparation of a Poverty Reduction Strategy (PRS) and the application of the rule of law, including courtroom management, administration and delivery of justice. The project also aims at putting in place adequate logistical infrastructure in the beneficiary institutions and the establishment of an appropriate institutional framework and working procedures between relevant public sector institutions required for the effective and efficient fulfilment of tasks and responsibilities of public servants.
The project components include:
- Strengthening capacity for macro-fiscal analysis and policy formulation, as well as revenue collection and monitoring;
- Strengthening capacity for the preparation and monitoring of budget;
- Strengthening capacity for national/sectoral strategic planning/programming and monitoring/evaluation, support to the PRS process;
- Strengthening capacity for the application and effective delivery of the rule of law.
The beneficiaries of the project include the Ministry of Finance, Bureau of Budget, Ministry of Planning and Economic Affairs, Judiciary Staff of Ministry of Finance Macro-Fiscal Unit as well as the Revenue Department and Tax Offices.
Total project cost is UA 3.158 million, equivalent to US$4.4 million. ADF grant represents 95 percent of total project cost. The Government of Liberia will contribute US$ 0.233 million, representing 5 percent of total project cost.
The ADB Group began operations in Liberia in 1969. To date, its commitments in the country stand at US$ 173 million in 28 operations.
- Name of Project: Institutional Support Project (ISP) for Governance, Economic Management and Poverty Reduction,
- Executing Agency: Project Implementation Unit (PIU) at the Ministry of Finance,
- Starting Date: January 2007,
- Duration: 2 Years,
- Consultancy Services: All these components will be procured through International Competitive Bidding (ICB) in accordance with the Bank Group's Rules of Procedure for Procurement of Goods and Works.
* 1 UA = USD 1.47637 as at 27/10/2006
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