The Khyber Pakhtunkhwa would receive technical assistance to bring improvement in Public Financial Management (PFM) under KP Revenue Mobilization and Resource Management Programme, said the White Paper on budget for financial year 2019-20. It said that under the program, the provincial government has requested for US$ 118 million in result-based financing from the World Bank (IDA-Assisted) to improve revenue mobilization, public resource management and service delivery during the period 2019-24.
The request after approved from Economic Affairs Division (EAD) had been forwarded to the World Bank. Recently, Finance Department and relevant stakeholders successfully negotiated the loan and the disbursement will start from Fiscal Year 2019-20.
The result-based financing would be based on the budget appropriations for targeted areas under the Khyber Pakhtunkhwa Financial Management Reform Strategy 2017-2020 and the Strategic Development Partnership Framework (SDPF) for effective mobilization of own source revenue of the province. The project has four broad areas of focus, including efficient revenue mobilization, public resource management, technical assistance and capacity building, and programme coordination and support.
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