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Argentina – Fiduciary Action Plan. Fiduciary Forum March 2008. Origin of Argentina FAP CMU Initiative. Increasing CAS Fiduciary Requirements (100% Investment Lending) Fiduciary Potential Issues in Bank Funded Operations, including indications of collusion in civil works.
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Argentina – Fiduciary Action Plan Fiduciary Forum March 2008
Origin of Argentina FAPCMU Initiative • Increasing CAS Fiduciary Requirements (100% Investment Lending) • Fiduciary Potential Issues in Bank Funded Operations, including indications of collusion in civil works. • Country weak control environment
Fiduciary Action Plan Objectives • Provide stakeholders with timely, detailed, high-quality, and transparent information on all aspects of Bank-financed procurement and contractual activities • Improve the Bank’s ability to assess the fiduciary performance of its portfolio through better tools for monitoring and evaluating fiduciary management • Build institutional capacity in areas of fiduciary management that are currently weak, for example auditing and contract price monitoring • Remove obstacles and strengthen capacity to mainstream Project Implementation Units (PIUs)
FAP Main Components • SEPA: web-based information system providing the public with easy access to detailed information on all Bank financed contracts • Enhanced Bank Fiduciary Monitoring: Integrated Fiduciary Performance Assessments (IFPA); Improved Audit Compliance • PMM: Price Monitoring Mechanism for Civil Work Contracts • Mainstream of PIUs in cooperation with Government
SEPA • Innovative, web-based system for planning and monitoring of all Bank-financed contracts, both from a procurement and a project management perspective. • Website completely open to the public • Shared information platform upon which the government and Bank teams discuss and negotiate projects’ procurement plans
IFPA – Integrated Fiduciary Performance Assessment • Integrated FM-PR Supervision and PR input to ISR. • Increased Frequency of Supervision (FM) • Strengthened Communication between OS/SMUs/CMUs: • Individual Project Evaluation: Traffic Light System & Integrated FM-PR Report discussed with TTL • Disagreement between OS Team & TTL reported to CMU & respective Management • Quarterly Portfolio Reports & meeting with relevant TTLs
Price Monitoring Mechanism for Civil Works Contracts • It aims at ensuring that reliable cost estimates be available before each procurement step: • Procurement Planning • Bidding Document Submission • Bid Evaluation • Possible Rejection of all bids • It will also provide the SEPA with a price indicators and red-flags tool.
Mainstreaming Project Implementation Units (PIUs) • Dependence on PIUs • Government reluctance for an across-the-board policy • Bank effort on preparation of new projects • Reduction of 46% of PIU staffing between 2004 and 2006
Lessons learned • Integration FM-Procurement • Cross Sector involvement & CMU ownership • Visibility, Communication, Network • Flexibility and mix of Instruments: ESW; Portfolio Activities; Support to Country Fiduciary
Lessons learned • Instrument for dialogue with Government, civil society and control institutions & Spill-over effect • Governance and fiduciary agenda are not mutually exclusives • Strengthening and reliance on country systems