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Maldives : $6.5 million WORLD BANK grant to boost Public Financial Management (PFM) System in MALDIVES

July 17, 2014



Board of the World Bank has sanctioned $6.5 million grant to support the strengthening of the Public Financial Management (PFM) System in Maldives.

Main objective of this project is to help strengthen the government institutions to execute informed decisions on fiscal adjustments efficiently which will positively impact the economy of the country.

Francoise Clottes, Country Director, Sri Lanka and Maldives said, A key challenge for the country will be to ensure that the government's social and economic goals are fully consistent with the urgent need for fiscal consolidation to restore fiscal and debt sustainability.

We are happy to assist the government in this endeavor with both financial and technical support.

The World Bank stated that the project will help in boosting budget credibility, transparency, and financial reporting of central government finances.


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Source: TendersInfo (India)


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