USAID joins Multi-Donor Trust Fund

KATHMANDU:

The US Agency for International Development (USAID) joined Multi-Donor Trust Fund (MDTF) for Public Financial Management (PFM) today. The administrative agreement was exchanged between the World Bank Country Manager for Nepal, Takuya Kamata and USAID Mission Director Dr Beth Dunford for the amount of $712,575, as per the press statement issued today.

The contribution shall be used to finance activities under the MDTF, which is administered by the World Bank and jointly funded by six donors: the European Union (EU), UK Department for International Development (DFID), the governments of Norway, Denmark and the Swiss Confederation, and the Australian government’s Department of Foreign Affairs and Trade (DFAT).

Established in December 2010, the objective of the MDTF is to strengthen the performance, transparency, and accountability of PFM in Nepal.

The Multi-Donor Fund works to strengthen Nepal government’s accounting systems and processes. It was responsible for rolling out the treasury single account (TSA) system to all 75 districts, resulting in the generation of timely budget financial reports reflecting the government expenditures and revenues, according to the statement.

It will also pilot the newly designed Revenue Management Information Systems (RMIS) module, preparation of financial statements for two pilot ministries following the International Public Sector Accounting Standards (IPSAS). The MDTF has also continued to lend support to the Office of the Auditor General (OAG).

SOurce: THT