World Bank avails $20m grant to Zim

Business Reporter—
ZIMBABWE has received $20 million grant from the World Bank to finance the Public Financial Management Enhancement Project meant to improve transparency and accountability in Government finances. In a statement, the Ministry of Finance and Economic Development said the project would involve procurement of goods (supply of information technology equipment and office furniture to be procured using international bidding and shopping) and consulting services.

It said the consulting services would be procured competitively by short-listing consultancy firms using quality and cost-based selection, least cost selection and short-listing of individual consultants.

“The overall development objective of the project is to improve control, transparency and accountability, and oversight of public resources in Zimbabwe.The project will have five components: Financial management and accounting ($6,8 million); enhance effectiveness of internal controls and internal audit ($3,2 million); enhance accountability through strengthening of external audit ($5 million); strengthening the demand side of transparency and accountability ($3 million); and public financial management ($2 million),” reads part of the statement.

The main beneficiaries to the project are the Ministry of Finance and Economic Development (the accountant general department, budget division, and the internal audit units), Office of the Auditor General, financial management units in Government, provincial and district authorities, and the legislature (Parliament).

It is hoped that the above beneficiaries would benefit in strengthening their oversight responsibilities in the area of public financial management. “Procurement of goods, works and non-consulting services will be in accordance with the World Bank Rules of Procedures for the Procurement of Goods and Works (January 2011 edition, revised July 2014).

Bidding documents are presently available and interested bidders may obtain further information and should confirm their interest by contacting the accountant general in the Ministry of Finance.