The Ministry of Finance, Budget, and National Planning has achieved a significant milestone by securing a substantial grant of $5.6 million from the World Bank. This grant, allocated under the State Fiscal Transparency, Accountability, and Sustainability (SFTAS) project, aims to reinforce the capabilities of the Home Finance Department through the acquisition of crucial resources.
The comprehensive procurement plan encompasses 21 items, spanning office stationery, furniture, solar inverters, office equipment, and vehicles. These initiatives align with the broader objective of the SFTAS project, initiated in 2018 to strengthen transparency and accountability at the sub-national level.
Although the project formally concluded in 2022, its impact continues to drive positive fiscal changes. The breakdown of the allocated funds demonstrates a meticulous approach to addressing various needs within the ministry.
The Home Finance Department received different allocations, including funds for office stationery, additional office equipment, furnishing the SFTAS Public Service Institute space, video conferencing equipment, and providing spatial data to states. Notably, the significant allocation of $4.78 million for spatial data provision underscores the importance of data-driven decision-making in fiscal policies.
Additionally, funds were designated for project vehicles, enhancing mobility for the Programme Coordinating Unit and the independent verification agent. While the procurement journey faced complexities resulting in cancellations and successful implementations, the ministry is actively navigating these challenges.
The World Bank grant signifies a collective effort to strengthen fiscal initiatives within the Ministry of Finance. As the procurement process unfolds, the ministry is poised to leverage these resources for sustained fiscal transparency and accountability, ensuring responsible utilization of the allocated funds.