WB to allocate $10m loan to Belarus for public financial management modernization project

        The World Bank will allocate a $10 million loan to Belarus for the public financial management modernization project, BelTA quotes the WB Office in Belarus. The project is aimed at improving policy alignment of the budget, consolidate cash balances, improve budget transparency and lay foundations for implementation of an Integrated Financial Management Information System. “The government’s public financial management reform strategy prepared by the Finance Ministry in 2015 relies on the evaluation of public spending and financial accountability and involves an ambitious reform program in the areas of medium-term budgeting, program budgeting, treasury, debt management, and public sector accounting,” the World Bank said.