Modernization of Public Financial Management Systems Project

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The development objective of the Modernization of Public Financial Management (PFM) Systems Project for Iraq is to improve financial information management and transparency, cash management, public investment management, and public procurement modernization at selected federal and governorate agencies. The first component is PFM. It consists of following sub-components: (i) integrated financial management information system (IFMIS) design and initial implementation; (ii) PFM capacity development; (iii) internal audit modernization at the Federal Ministry of Finance; (iv) PFM systems at the subnational level; and (v) project management and reform coordination. The second component is public investment management and public procurement at the Federal level. It consists of following sub-components: (i) public investment management system (PIMS) strengthening; (ii) public procurement modernization; and (iii) project management and reform coordination. The third component is public investment management and public procurement at the Kurdistan Regional Government (KRG) level. It consists of following sub-components: (i) PIMS strengthening; (ii) public procurement modernization; and (iii) project management and reform coordination.