Development cooperation , 15.11.2019

PREFER Public Finance Management reform project

Description

PREFER is World Bank’s Multi Donor Trust Fund, which promotes public finance reform programs in Mozambique between 2019 - 2023. The project aims to strengthen domestic resource mobilization, improve expenditure management, decentralize public finance and strengthen financial management of local government. By broadening the tax base and streamlining taxation, the project strengthens the sustainability of government revenue. In addition, increasing the efficiency and transparency of public funds administration, as well as the transparency and predictability of transfers to local governments, the project contributes to efficient financing of public services, as well as public confidence in the system. The project builds on the Government of Mozambique's Public Finance Strategy, supporting a number of its priorities. It was developed in collaboration with the Mozambican Ministry of Economy and Finance and the Revenue Authority. PREFER constitutes an integral part of the Good Governance priority area of Finland’s Country Strategy, which aims to support the use of Mozambique's natural resources and revenues for inclusive and sustainable development. The total budget for the project is 24 million USD, of which Finland contributes 3 million EUR. Other donors who have joined the fund are EU, Norway and Sweden.

Funding decision  15.11.2019

3 000 000 €

Objectives monitored by OECD's Development Assistance Committee

  • Participatory development/Good governance

Field of activity

  • Domestic Revenue Mobilisation 50%
  • Public Finance Management (PFM) 44%
  • Decentralisation and support to subnational government 6%

Funding channel

Maailmanpankkiryhmä

Contact

ali-30

Code for the object of funding

25916445

ID

UHA2017-001771

Modified

25.05.2020