NewsWhore
11-30-2006, 02:20 PM
The Inter-American Development Bank (IDB) has approved a US$21 million loan to modernize public resources management. A press release by the IDB explains that the loan will help efficiency, transparency and accountability in the public sector. IDB project team leader Roberto Camblor said that this loan would allow the government to put existing resources into other sectors like social programs and poverty reduction.
According to IDB, the governmnet's integrated financial management system (SIGEF), which comprises the budget, public debt, treasury and accounting systems, will be linked to the public investments and public sector human resources information systems and placed on the Internet. The SIGEF's coverage will expand to include decentralized agencies and social security institutions. In coordination with the World Bank, the IDB also developed a component of the program focused on increasing the efficiency and transparency in state procurement. The Office of the Comptroller General, the agency in charge of verifying public sector resources are used efficiently and transparently, will also be strengthened by training its staff and implementing internal oversight and audit systems. The loan is for 25 years, with a five-year grace period and a variable interest rate.
More... (http://www.dr1.com/index.html#2)
According to IDB, the governmnet's integrated financial management system (SIGEF), which comprises the budget, public debt, treasury and accounting systems, will be linked to the public investments and public sector human resources information systems and placed on the Internet. The SIGEF's coverage will expand to include decentralized agencies and social security institutions. In coordination with the World Bank, the IDB also developed a component of the program focused on increasing the efficiency and transparency in state procurement. The Office of the Comptroller General, the agency in charge of verifying public sector resources are used efficiently and transparently, will also be strengthened by training its staff and implementing internal oversight and audit systems. The loan is for 25 years, with a five-year grace period and a variable interest rate.
More... (http://www.dr1.com/index.html#2)