Financial Management Project

A project modality may not be the best approach to a process issue such as fostering improvements in a public financial management system. A combination of technical assistance (TA) and program lending or a sector development program may have been a more appropriate approach in bringing about improvements. If a project modality is used, financing plans should reflect the nature of the project inputs being financed. Although the project mobilized almost $25 million in grant parallel cofinancing, many of the international consultants were financed from the loan.