UNDP Moldova, with the financial support from the Slovak-UNDP Trust Fund, has recently launched a project on strengthening capacities and systems for effective public finance management. The project is a part of the Public Finance for Development Programme, a regional initiative aiming to assist the partner countries in their efforts to reform and enhance the public finance management.
The project has a budget of US$450,000 and will be implemented for 2.5 years. It will build on the previous assistance in strengthening the program-based budgeting and in introducing the expenditure reviews at the sector level offered by the Slovak Ministry of Finance through the Slovak-UNDP Trust Fund.
The initiative will further strengthen capacities of the public finance system stakeholders for improving the budget efficiency and rationalization of public spending. The project will support the Ministry of Finance in ensuring the alignment of budget flows to the nationalized targets of the Sustainable Development Goals (SDGs).
“This new phase of the project represents a continuity of the process that we started almost three years ago with the spending reviews. We are very glad that UNDP was able to help us in continuing this process, because enhancing analytical capacities and analyzing the public policies from the point of view of sustainable financing is very important at this point,” said Tatiana Ivanicichina, State Secretary of the Ministry of Finance, on 10 December 2020, at a first workshop on Development Finance Assessment (DFA), attended by 65 participants from the Ministry of Finance, State Chancellery, line ministries and international organizations.
“This project becomes even more relevant when the Government is facing challenges of an increased demand for financial resources in the COVID-19 pandemic context. UNDP will support the Government in building a more integrated approach to financing of the recovery plan to ensure recovery that emphasizes sustainability, inclusivity and resilience,” noted Andrea Cuzyova, UNDP Deputy Resident Representative for the Republic of Moldova.
The UNDP-developed Development Finance Assessment methodology offers governments a well-structured process to analyze the financial flows and needs and to build consensus for designing holistic financing strategies to drive recovery from the pandemic and the achievements of SDGs. DFA will provide insights on the financing landscape to strengthen the governance mechanism that aligns the mid-term budgetary framework and the annual budgets to the national and sectorial development strategies.
Contact for mass-media: Laura Bohantova, Communications Analyst, UNDP Moldova, tel. +373 685 11 883, E-mail: firstname.lastname@example.org