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World Bank partners Nigeria on public finance

10 July 2014, 12:17

Abuja - The World Bank says it will partner the Federal and State Governments to improve Public Finance Management and ensure effective delivery of government’s policies and projects.

The disclosure is contained in the World Bank Group Nigeria’s Country Partnership Strategy 2014 to 2017 report released on Wednesday in Abuja.

It said the partnership would help government to tackle the challenge of translating wealth into tangible welfare for the benefit of the population.

The bank said the partnership will be in the areas of investment, loan, development, policy, operations, communities' practice and technical assistance.

According to the report, the bank in partnership with civil society would scale up monitoring and demand for the timely disclosure of quality information on public finance and policy.

It commended the various reforms of some States and Federal Government that were geared toward improving public finance management.

Some of the reforms, it said, included progressive law in procurement, fiscal responsibility, more strategic budgetary planning among others.

It further said that the partnership would bring about many benefits, including facilitating more quality and timely information on public finance.

It added that other benefits included heightening activity of civil society in monitoring public finance and demanding relevant information.

-     NAN

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