Public Finance Management Technical Assistance Project

closed

The objective of the Public Finance Management (PFM) Technical Assistance Project for Russian Federation is to improve transparency and results focus in public financial management and build institutional foundations for improved budget efficiency, effectiveness, and accountability. The project has five components. The first component is tax policy and administration. This component strengthens the revenue base of government by modernizing important aspects of tax policy and administration. The second component is improving efficiency of the system of inter-governmental fiscal relations and sub-national PFM. This component addresses the vertical efficiency of government financing to sub-national government and helps to strengthen PFM at sub-national level. The objective of this component is to increase efficiency and effectiveness of the system of federal or regional fiscal transfers to regional or municipal governments. The third component is support for the development of e-budget system. This component provides more efficient information flows through development of an integrated financial management system which are an essential part of better management and control. This project component is expected to support some of the activities identified in the Ministry of Finance (MOF's) broader e-budget action plan, to complement the MOF's ongoing efforts for developing and implementing the key modules of the system. The fourth component is enhancing budget efficiency. This component improves expenditure planning, control, and monitoring. This component will provide advice to the government on the design and implementation of key aspects of this program, based on international good practices. The fifth component is project management. This component will strengthen the borrower's capacity to ensure timely implementation of project activities, adherence to procedures and quality standards, and monitoring and reporting of project implementation and results. It includes financing of a project implementation unit, including procurement and financial management experts.