{"id":235917,"date":"2005-06-20T09:48:00","date_gmt":"2005-06-20T09:48:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/06\/20\/world-bank-to-release-11-5-million-dollars-to-help-moldova-better-manage-public-finance-and-cadastre-system-3374-eng\/"},"modified":"2005-06-20T09:48:00","modified_gmt":"2005-06-20T09:48:00","slug":"world-bank-to-release-11-5-million-dollars-to-help-moldova-better-manage-public-finance-and-cadastre-system-3374-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/world-bank-to-release-11-5-million-dollars-to-help-moldova-better-manage-public-finance-and-cadastre-system-3374-eng\/","title":{"rendered":"World Bank to release 11.5 million dollars to help Moldova better manage public finance and cadastre system"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The World Bank has approved a 8.548 million dollars Public Financial Management Project (PFM), as well as a 3-million-dollar Additional Credit to the First Cadastre Project for Moldova. The documents on financing of the PFM Project and Additional Credit were signed on June 16. <\/p>\n

Both the PFM Project and Additional Credit would be interest free, repayable in 40 years, including a grace period of 10 years. <\/p>\n

The total cost of the PFM Project is 15.33 million dollars The project implementation period is 4 years, from January 2006 to December 2009. The PFM Project will assist the government in introducing modern and effective methods of management of public finances through a more strategic resource allocation supporting the achievement of priorities of the Moldova Economic Growth and Poverty Reduction Strategy Paper. It aims at more effective budget execution and controls, allowing public managers to have more control and responsibility for the use of allocated budget resources; and use of an IT system that will provide speed, reliability, accuracy of transaction records, and reduction of fraud. It will also support better skilled personnel in managing government programs and budgets, as well as a system of internal auditing which will help managers to better use resources to achieve organizational goals. In addition, the project will facilitate the development of a system of civil service training and will improve management skills of the current managers. <\/p>\n

"The PFM Project will help improve budget transparency and its international comparability, because it will introduce a new budget classification, and reporting aligned with the international Government Financial Statistics system," said Svetlana Proskurovska, the World Bank’s task manager of the project. <\/p>\n

The Additional Credit for the First Cadastre Project would provide financing for additional surveying of real estate in Moldova. The project will increase coverage and access to real estate registration throughout the country and update the existing information system, consolidate data from all territorial cadastral offices and improve information flow. <\/p>\n

The 15.9 million dollars first Cadastre Project for Moldova was approved by the World Bank in April 1998 and became effective in March 1999. Under the current Additional Credit the First Cadastre Project will be fully implemented by June 30, 2007.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The World Bank has approved a 8.548 million dollars Public Financial Management Project (PFM), as well as a 3-million-dollar Additional Credit to the First Cadastre Project for Moldova. The documents on financing of the PFM Project and Additional Credit were signed on June 16. Both the PFM Project and Additional Credit would be interest free, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-235917","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The World Bank has approved a 8.548 million dollars Public Financial Management Project (PFM), as well as a 3-million-dollar Additional Credit to the First Cadastre Project for Moldova. The documents on financing of the PFM Project and Additional Credit were signed on June 16. <\/p>\n

Both the PFM Project and Additional Credit would be interest free, repayable in 40 years, including a grace period of 10 years. <\/p>\n

The total cost of the PFM Project is 15.33 million dollars The project implementation period is 4 years, from January 2006 to December 2009. The PFM Project will assist the government in introducing modern and effective methods of management of public finances through a more strategic resource allocation supporting the achievement of priorities of the Moldova Economic Growth and Poverty Reduction Strategy Paper. It aims at more effective budget execution and controls, allowing public managers to have more control and responsibility for the use of allocated budget resources; and use of an IT system that will provide speed, reliability, accuracy of transaction records, and reduction of fraud. It will also support better skilled personnel in managing government programs and budgets, as well as a system of internal auditing which will help managers to better use resources to achieve organizational goals. In addition, the project will facilitate the development of a system of civil service training and will improve management skills of the current managers. <\/p>\n

"The PFM Project will help improve budget transparency and its international comparability, because it will introduce a new budget classification, and reporting aligned with the international Government Financial Statistics system," said Svetlana Proskurovska, the World Bank’s task manager of the project. <\/p>\n

The Additional Credit for the First Cadastre Project would provide financing for additional surveying of real estate in Moldova. The project will increase coverage and access to real estate registration throughout the country and update the existing information system, consolidate data from all territorial cadastral offices and improve information flow. <\/p>\n

The 15.9 million dollars first Cadastre Project for Moldova was approved by the World Bank in April 1998 and became effective in March 1999. Under the current Additional Credit the First Cadastre Project will be fully implemented by June 30, 2007.<\/p>\n

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