The project Strengthening Public Finance Management (PFM) and Governance in the Pacific defines the first specific objective Transparent and Effective Policies and PFM, Data and Statistics under the third priority area of the Pacific Regional Indicative Programme 2014-2020 Inclusive and Accountable Governance.
The implementation of the regional programme is being overseen by the Pacific Islands Forum Secretariat (PIFS), which is the Duly Mandated Regional Organisation (DMRO) for the resources of the European Development Fund (EDF) in the region.
The overall objective of this PFM and Governance project is to improve economic, governance and environmental performance of Pacific ACP states. The project's purpose is to strengthen the PFM systems and governance of key domestic institutions of Pacific ACP states. A stronger PFM system will support effective accountability and transparency mechanisms for management and effective use of public and donor funds in the Pacific ACP states.
The specific objectives of the PFM and Governance project are to strengthen national PFM systems in the countries of the region, identifying three Key Result Area's:
KRA1 - to strengthen national PFM systems in the countries in the region;
KRA2 - to enhance external audit and role of Supreme Audit Institutions (SAIs); and
KRA3 - to achieve greater public finance oversight and accountability roles of Parliaments with the engagement of civil society organisations (CSOs).
The activities will be implemented within 14 Pacific Islands Countries and Timor-Leste.
The implementing partners are the Pacific Financial Technical Assistance Center of the International Monetary Fund (PFTAC, IMF), the Pacific Association for Supreme Audit Institutions (PASAI), the United Nations Development Program (UNDP), the University of the South Pacific (USP) and PIFS is in a coordinating role.
Financed under the 11th EDF, the PFM and Governance project will contribute to evidence-based budgets and policies, efficient public expenditure, improved performance, and stronger accountability. It mainly consists of capacity and institution building of Ministries of Finance, the Offices of the Auditor-Generals and the Public Accounts Committees in Parliaments, or alike. The project promotes close cooperation and an optimal exchange among the implementing partners, the coordinator and the financer for the benefit of PFM and Governance in the Pacific countries.