Ghana - Public Financial Management and Private Sector Competitiveness Support Programme - Phase I

The Public Financial Management and Private Sector Competiveness Support Programme Phase I (PFMPSCSP) responds to the need for Ghana to build a strong foundation for inclusive and self-reliant economic growth. This is the first of two consecutive operations in a programmatic series of General Budget Support (GBS) over the period 2015-2016 for a total indicative financing package of UA 75 million. The proposed operation will build on the achievements of the Bank’s previous Institutional and Budget Support Operations in Ghana in the areas of PFM and business enabling environment (see Annex V). In this context, the Bank has supported GOG’s efforts in reinstating and enforcing budget commitment controls for all the MDAs; establishing the cash management system; consolidating the revenue agencies (VAT, IRS, and Customs) under a single umbrella organization, the Ghana Revenue Authority (GRA); improving the audit functions; as well as in developing the financial sector strategic plan II and the Private Sector Development Strategy (PSDS II).