World Bank, GAM to launch public expenditure, financial accountability program | Business | Ammon News


World Bank, GAM to launch public expenditure, financial accountability program


[9/18/2017 2:59:09 PM]

AMMONNEWS - The World Bank is set to launch, on Wednesday, the Public Expenditure and Financial Accountability Assessment Program (PEFA) in cooperation with the Greater Amman Municipality (GAM).

The program is based on evaluating financial management practices at the level of countries, according to performance indicators covering budget reliability and transparency of public finances, and other aspects related to budgets and public spending.

The program aims to share the 2014-2016 GAM's Public Expenditure and Accountability Assessment Report and the financial analysis report, as well as presenting the municipality's financial situation, its investment plans and discussing of the impact of previous reports on the its future.

The GAM and the World Bank began their cooperation in 2016, when the latter's mission and the French Development Agency (AFD) expressed desire to assess the municipality's financial management after they decided that GAM was eligible to undergo the evaluation program, through phases and sequent steps.

The full cost of the evaluation program will be funded by the World Bank, in coordination with the Ministry of Planning and International Cooperation.

Based on the joint collaboration, the GAM will work with the World Bank to secure grants to fund future capacity-building programs for the municipality's financial management according to the PEFA's output.

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