Pakistan: Second Improvement to Financial Reporting and Auditing Project

WASHINGTON, September 6, 2005- The following project was approved today by the World Bank’s Board of Executive Directors:

IDA CREDIT AMOUNT: $84 million

TERMS: Grace period = 10 years; Maturity = 35 years

PROJECT DESCRIPTION:  The project’s objective is to improve the efficiency and effectiveness of public expenditure and increase the potential for economic growth and poverty reduction. The project will work with different tiers of government to introduce an automated system-wide implementation of medium term budgetary frameworks, assist in improving business processes and changes to government financial management, and will result in setting up enhanced accountability systems for devolved levels of local government.

For more information, please call Benjamin Crow at (202) 473-5105 or email: bcrow@worldbank.org.

For project information documents, visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P076872