World Bank will finance a project on consultation and analysis of public finance management. (Source: checkbalances.clio.nl)

Hanoi (VNA) – The Prime Minister has just approved the contents of a technical assistance project on consultation and analysis of public finance management in Vietnam funded by the Swiss Economic Cooperation and Development (SECO) and the Global Affairs Canada through the World Bank (WB).

The project aims to improve the public finance system in Vietnam in terms of efficiency and effectiveness of public expenditure and public service.

The project comprises five components: improving the connection between planning and state budget, improving the efficiency of controlling budget use, improving the provision of budget information, improving systems to ensure budget stability and determining and managing fiscal-year risks.

The Ministry of Finance (MoF) will implement the project over five years.

The total cost of the project is 6.33 million USD, of which 5.73 million USD is sourced by non-refundable aid from SECO and the Global Affairs Canada sponsored, and the remaining 600,000 USD comes from Vietnam’s budget.

The PM assigned the MoF to finalise documents for the project and be accountable for the appraisal and implementation of the project.-VNA