IFAD East & Southern Africa Portfolio Characteristics
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IFAD East & Southern Africa Portfolio Characteristics

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IFAD East & Southern Africa Portfolio Characteristics IFAD East & Southern Africa Portfolio Characteristics Presentation Transcript

  • IFAD East & Southern Africa Portfolio Characteristics Regional Financial Management Workshop Nairobi, 20-22 September 2010 1
  • Setting the context ESA Loan & DSF Grant Portfolio Burundi 9% Zambia 4% Angola 1% Comoros 0% Uganda 17% Eritrea 4% Ethiopia 13% Tanzania12% Kenya 8% Lesotho 2% Swaziland 2% Madagascar Rwanda 8% Malawi 3% 7% Mozambique 9% Mauritius 1% ESA Loan & DSF Grant Portfolio 2 2
  • Setting the context ESA Portfolio by type ESA Loan & DSF Grant Portfolio 3 3
  • Financial management – key to success Clear correlation between projects with high fiduciary ratings and overall implementation progress Why? Better efficiency + effectiveness + implementation results How? Critical setting of AWPB to ensure milestones met Monitoring of AWPB to ensure steady progress & performance Value for money leads to higher impact from resources Ensure adequate cashflows + anticipates gaps from planning 4 4
  • Key success factors  Project management – single most important determinant of project implementation results  High correlation – implementation progress, M+E, procurement, AWPB Sound, realistic + timely work planning & budgeting, rigorous follow up, attention to M&E 5 5
  • Fiduciary performance  Clear correlation between projects with high fiduciary ratings and overall implementation progress 6 6
  • Fiduciary best practices  Centralised country control unit  Use of external services firm  Additional missions and support  Internal auditor  Country finance & procurement working group  Standardised country rules, procedures, training  Review of authorised allocations & thresholds  Proactive staff to accelerate procurement processes 7 7
  • Fiduciary best practices  Reliable financial systems  Regular (quarterly) reporting Accounting packages  10/42 projects use spreadsheets  60% of projects with accounting software use TOMPRO 8 8
  • Disbursements  USD 121 million (36% increase) 9 9
  • Disbursements - WAs 10 10
  • Disbursements - WAs Common issues: • Reconciliation of Special Account • WAs not fully supported • Problems understanding the mechanism for grants – based on justification of the 75% of the advance & subsequent year’s AWPB • Exchange Rate issues • Using the wrong forms • Delays in responding to queries, submitting WAs with unsigned SOEs, using wrong forms especially summary sheets, etc 11 11
  • FM Tools & Resources FM&GG Internet site: English: http://www.ifad.org/operations/pf/finance French: http://www.ifad.org/operations/pf/finance/french/index.htm INSERT SCREEN SHOT FROM SITE Withdrawal Application Tracking System (WATS) https://webapps.ifad.org/wats/login 12 12
  • FM Tools & Resources Audit Review Form/ Checklist • Iterative tool, prepared by IFAD for implementation support • Increased importance due to renewed emphasis on fiduciary responsibilities under direct supervision • Analyses completeness and reasonableness of: – financial statements – audit opinions – audit work performed • Lists major follow up action to be performed by project • May require action plan to be prepared • Updated format to be launched with new audit report tracking tool (ARTS) 13 13
  • Feedback on audit reports 14 14
  • Feedback on audit reports Assessment of 41 Audit Reports received: 1 July 2009 - 30 June 2010 15 15
  • FM Tools & Resources 2010  ARTS (Audit Report Tracking System)  Revised Procurement guidelines  Regional FM resource packs 2010/11 Revised Loan Admin procedures Revised Audit Guidelines 2012 Loans & Grants system 16 16
  • FM Tips Do’s Don’t’s  Quality o Be afraid to ask IFAD!  Timeliness  Send updated E-mail addresses to: r.farrant@ifad.org r.getachew@ifad.org 17 17