IFAD East & Southern Africa Portfolio Characteristics
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Transcript of IFAD East & Southern Africa Portfolio Characteristics
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IFAD East & Southern Africa Portfolio Characteristics
Regional Financial Management Workshop Nairobi, 20-22 September 2010
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Setting the context
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ESA Loan & DSF Grant Portfolio
ESA Loan & DSF Grant Portfolio
Ethiopia 13%
Zambia 4% Angola 1%Uganda 17%
Tanzania12%
Swaziland 2%
Rwanda 8%Mozambique
9% Mauritius 1%
Malawi 3%Madagascar
7%
Lesotho 2%
Kenya 8%
Comoros 0%Eritrea 4%
Burundi 9%
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Setting the context
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ESA Loan & DSF Grant Portfolio
ESA Portfolio by type
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Financial management – key to success
Clear correlation between projects with high fiduciary ratings and overall implementation progress
Why?
Better efficiency + effectiveness + implementation results
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How?Critical setting of AWPB to ensure milestones metMonitoring of AWPB to ensure steady progress & performanceValue for money leads to higher impact from resourcesEnsure adequate cashflows + anticipates gaps from planning
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Key success factors
Project management – single most important determinant of project implementation results
High correlation – implementation progress, M+E, procurement, AWPB
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Sound, realistic + timely work planning & budgeting, rigorous follow up, attention to M&E
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Fiduciary performance
Clear correlation between projects with high fiduciary ratings and overall implementation progress
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Fiduciary best practices
Centralised country control unit Use of external services firm Additional missions and support Internal auditor Country finance & procurement working group Standardised country rules, procedures, training Review of authorised allocations & thresholds Proactive staff to accelerate procurement processes
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Fiduciary best practices
Reliable financial systems Regular (quarterly) reporting
Accounting packages 10/42 projects use spreadsheets 60% of projects with accounting software use TOMPRO
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Disbursements
USD 121 million (36% increase)
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Disbursements - WAs
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Disbursements - WAs
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Common issues:
• Reconciliation of Special Account
• WAs not fully supported
• Problems understanding the mechanism for grants – based on justification of the 75% of the advance & subsequent year’s AWPB
• Exchange Rate issues
• Using the wrong forms
• Delays in responding to queries, submitting WAs with unsigned SOEs, using wrong forms especially summary sheets, etc
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FM Tools & ResourcesFM&GG Internet site:
English: http://www.ifad.org/operations/pf/finance
French: http://www.ifad.org/operations/pf/finance/french/index.htm
INSERT SCREEN SHOT FROM SITE
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Withdrawal Application Tracking System (WATS) https://webapps.ifad.org/wats/login
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FM Tools & Resources
Audit Review Form/ Checklist• Iterative tool, prepared by IFAD for implementation support• Increased importance due to renewed emphasis on fiduciary
responsibilities under direct supervision
• Analyses completeness and reasonableness of:– financial statements– audit opinions– audit work performed
• Lists major follow up action to be performed by project• May require action plan to be prepared
• Updated format to be launched with new audit report tracking tool (ARTS)
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Feedback on audit reports
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Feedback on audit reports
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Assessment of 41 Audit Reports received: 1 July 2009 - 30 June 2010
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FM Tools & Resources2010 ARTS (Audit Report Tracking System) Revised Procurement guidelines Regional FM resource packs
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2010/11Revised Loan Admin procedures Revised Audit Guidelines
2012Loans & Grants system
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FM Tips
Do’sQualityTimelinessSend updated E-mail
addresses to:
Don’t’so Be afraid to ask IFAD!
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