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IFAD East & Southern Africa Portfolio Characteristics

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IFAD East & Southern Africa Portfolio Characteristics

  1. 1. IFAD East & Southern Africa Portfolio Characteristics Regional Financial Management Workshop Nairobi, 20-22 September 2010 1
  2. 2. 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
  3. 3. Setting the context ESA Portfolio by type ESA Loan & DSF Grant Portfolio 3 3
  4. 4. 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
  5. 5. 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
  6. 6. Fiduciary performance  Clear correlation between projects with high fiduciary ratings and overall implementation progress 6 6
  7. 7. 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
  8. 8. 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
  9. 9. Disbursements  USD 121 million (36% increase) 9 9
  10. 10. Disbursements - WAs 10 10
  11. 11. 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
  12. 12. 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
  13. 13. 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
  14. 14. Feedback on audit reports 14 14
  15. 15. Feedback on audit reports Assessment of 41 Audit Reports received: 1 July 2009 - 30 June 2010 15 15
  16. 16. 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
  17. 17. 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

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