World Bank sets aside US$11 million grant for Zimbabwe

world-bank-

World Bank also plans to lend support to state owned enterprises in the country.

THE World Bank has set aside a US$6,5 million grant to enhance the business environment in the country and a further US$5 million to promote e–procurement in government, World Bank Senior Financial Management Specialist,  has said.

Domolevo said the two programs would assist Zimbabwe in improving its economic environment and enhance transparency and good governance in public procurement.

“Since 2010, we have been helping government in its attempt to revive the economy. We have also helped the accountant general and the auditor-general in the country. The World Bank has now set aside a US$6,5 million grant for the Business Enabling Environment Program. A further US$5 million will also be availed to promote good governance in government procurement through e-procurement,” he said.

Domolevo said the World Bank also plans to lend support to state owned enterprises in the country.

Speaking at the ACCA regional conference last month, the financial management specialist said the World Bank will also avail a US$20 million grant to assist Zimbabwe in improving its Public Finance Management System.

He said the grant will will assist government in improving its financial reporting through installing new models of the software that it has been using. The grant is also aimed at improving internal audit so as to check the control systems in place to see whether people are complying with the requirements of financial management and the law.

Beyond this, he said the World Bank will also help the office of the auditor general to perform its function and assist the government department to improve its auditing skills. The World Bank will further assist parliament in capacity building to ensure that parliamentarians have a better appreciation of audit reports. The program will also be extended to local government and city councils around the country. FinX