WB team arrives tomorrow to review MTBF project

A 13-member mission of the World Bank (WB) will visit Bangladesh from February 16 to March 2 to review its Deepening Medium Term Budget Framework (MTBF) and Strengthening Financial Accountability Project, officials said.

The mission will focus on restructuring of the project and revise results framework, provide recommendations to increase project ratings and explore possibilities, including definition of scope and modalities, of a project by working directly with selected line ministries to improve public financial management.

The mission will work closely with the ministry of finance, the project management and coordination unit (PMCU) and the management implementation support consultants (MISC), the officials also said.

Objectives of the project are to deepen and institutionalize the MTBF and build a more strategic and performance-oriented budget management process, while strengthening financial accountability across expenditure management cycle.

The project also aims to strengthen and modernize core institutions of budgeting within the government with a particular emphasis on introducing a performance orientation in public financial management, they added.