AfDB Approves USD 34.8 Million for Public Financial and Macroeconomic Management Project in Sudan
The AfDB Board of Directors, on 17 December 2013 in Tunis, approved US$ 34.8 million grant resources from its Fragile State Facility (FSF) to finance the Public Financial and Macroeconomic Management Capacity Project (PFMMCBP) in Sudan.
The project involves the installation of a fully integrated public financial management information system, debt management and financial analysis system, and core banking applications with an electronic trading platform for an effective public financial management and efficient management of Sudan’s debt.
In approving the project the Board expressed satisfaction that the project holistically addresses fundamental development elements from capacity building, gender inclusiveness, public financial management, procurement, budgeting and accountability which will enhance the macroeconomic management of the country and assist the country to move forward.
While presenting the project to the Board, Isaac Lobe Ndoumbe, director of the AfDB’s Governance Department, explained the importance of the project to the re-engineering of the business process for public financial management in Sudan and for the implementation of Sudan’s Public Finance Management (PFM) Action Plan, jointly monitored by the government and development partners.
Lobe Ndoumbe noted that the project represents part of a concerted effort by the international development community to stabilize the Sudanese economy.
Answering questions from the Board Lobe Ndoumbe said: “Sudan has met all the eligibility criteria to access Bank’s assistance under Pillar 1 of the Fragile States Facility.”