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Financial Management Town Hall Meeting

Financial Management Town Hall Meeting. Recent Developments. Paul Bermingham, Director, Financial Management June 29, 2004. Overview. Corporate expectations – a reminder Expenditure eligibility Strengthened PFM approach Other recent developments Sector board retreat.

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Financial Management Town Hall Meeting

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  1. Financial Management Town Hall Meeting Recent Developments Paul Bermingham, Director, Financial Management June 29, 2004

  2. Overview • Corporate expectations – a reminder • Expenditure eligibility • Strengthened PFM approach • Other recent developments • Sector board retreat

  3. Corporate expectations – a reminder... • Build on achievements to date • “innovate, change, adapt, improve” (Shengman)… • …and maintain quality as we do so • Country institutional performance is the key • results agenda (Bank finances 1% of development costs) • MIC agenda • centerpiece of our diagnostic and lending work • focal point for donor harmonization • demanded by our borrowers • existing institutions should be the starting point of our work • A principles-based approach • exercise of professional judgment • a more explicit risk-based approach • Committed to harmonization

  4. Corporate expectations – a reminder... • PFM has never been more central to the development agenda—can we meet expectations? • A shift, over time, in our value function • aligning the Bank’s interest with that of its borrowers • aligning the FM agenda with development effectiveness • from “mandate” to “market” • from “the what” to “the how” • Prioritize—be clear on what we do less of

  5. Expenditure eligibility • Final approval by the Board on April 13 • Implementation now underway • smooth start • 5 countries have set financing parameters • regions and networks have nominated focal points • Full impact will emerge progressively during FY05 • Q&A to FM staff under preparation • Contact person: T.K. Balakrishnan • Web site: http://opcs.worldbank.org/eligibility/

  6. Strengthened PFM approach • Amended approach emerging, informed by discussion at Fiduciary Forum • Stronger commitment to PFM capacity; clearer link to fiduciary • Bank and other donors to support government led reform programs • Diagnostic work driven by program needs • CFAA continues, but not mandated for all borrowers • analytic work planned by country teams, in consultation with government and other donors • stronger link between country- and project-analytic work • PFM Performance Report and Indicators • measure results of reform programs • inform assessment of fiduciary risks

  7. Other recent developments • Organizational effectiveness review, due to report in September • networks, sector boards, and anchors • operation of the matrix within the regions • decentralization • SAI strategy paper • review meeting on July 1 • QAG QSA 6 review about to get underway • UN system • more flexible arrangements agreed with 3 agencies (UNDP, UNICEF, FAO) • paper being prepared on approach to all UN agencies

  8. Other recent developments • OP 10.02 • draft circulated to all staff for comment • amended draft, and summary of comments, will be available shortly • coordination with the new OP 12 • Consolidated, abbreviated guidelines under preparation • Strengthened PFM approach amended to reflect feedback from Forum and other events • Use of country systems • participating in dialogue with other groups and EDs • initial thinking on approach discussed at sector board • pilot under preparation in Morocco • some innovative projects have been approved (Poland, India, Mexico, Brazil)

  9. Sector board retreat • Held at Airlie June 14 and 15 • Three main areas for follow up action agreed • FM Boundaries: • a new user-friendly statement of FM role to be used in spreading the message (by mid July) • engage with Organizational Effectiveness Review • keep network informed (Town Hall and regional events) • Strengthened Approach to PFM: • formation of PFM teams in country offices to deal with PFM issues • move away from “mandatory” core diagnostics (PER/CFAA/CPAR); • expand the 15 HIPC indicators to a broader set and put in place a robust measurement framework that can track progress over time

  10. Sector board retreat • People: • review generic technical job profiles (levels GE-GH), selection criteria, and career stream for differentiation across grades and qualifications • advance the FY03 staff skills inventory exercise • engage in the work of institutional teams (Central HR and the Organizational Effectiveness Review committee) on decentralization, specifically flexible terms of employment for IRS and LRS, and scope for LRS to participate in/undertake cross-country/Regional work • review RFMM job • review location of work issues within the network

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