ADF Loan for Enhancement of Public Financial Management tin ...| MENAFN.COM

Sunday, 07 August 2022 10:36 GMT

ADF Loan for Enhancement of Public Financial Management tin Lesotho


(MENAFN- Qatar News Agency) The African Development Fund (ADF) €“ the soft loan arm of the African Development Bank Group €“ approved a grant of USD 99 million for an institutional support project for the enhancement of public financial management in Lesotho, according to African Development Bank Group . The project aims at establishing more efficient and transparent public procurement systems as well as enhancing accountability in the use of public funds The various activities of the project will contribute to ensuring greater value for money in procurements and establishing a system of checks and balances to ensure that the public resources are spent effectively and efficiently in line with strategic priorities of Lesotho's National Strategic Development Plan The beneficiaries of the project include the Ministry of Finance, the Office of the Auditor General, the Parliament's Public Accounts Committee and the Directorate on Corruption and Economic Offences The project will strengthen institutions by building capacity in the areas of public.


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