Cameroon - Public Finance Management Strengthening Support Project (PARGEFIP) (AFDB-P-CM-KF0-005)

Countries
  • Cameroon
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 6, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MINISTERE DU PLAN - DE L'AMENAGEMENT DU TERRITOIRE Information IATI identifier 46002-P-CM-KF0-005 La
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 9.53 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported U.A 13,234,000
Converted using 2019-11-06 exchange rate.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jun 15, 2020


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Project Description

The Public Finance Management Strengthening Support Project (PARGEFIP) was designed to respond to Cameroon's current major public finance challenge. It's part of implementation of Phase II of Vision 2035, and the Growth and Employment Strategy Paper (GESP, 2020-2027). The PARGEFIP aims to accompany the policy support reform programme to ensure the sustainable implementation of reform actions, particularly in the area of public finance management where the need for institutional strengthening is acutely felt. Through its activities, the project is expected to improve the quality of public investment in the energy, transport and rural development sectors. In the medium term, the project will enable the population to benefit from better access to electricity, better maintained roads, equitable access to public procurement, and a framework conducive to the development of their activities. The PARGEFIP has three components. The first component focuses on budgetary resource mobilisation capacity building. The second component aims to strengthen the PFM framework, including that for public debt. The third and last component concerns project management.

The project's global objective is to enhance the performance, integrity and transparency of the PFM system and its compliance with international standards by improving budgetary resource mobilisation as well as the quality and impact of public investment expenditure. The specific objectives are to (i) optimise the mobilisation of domestic budgetary resources; (ii) limit budgetary risks through the control and proper management of budget execution; (iii) align the institutional framework and internal/external audit practices with international standards; and (iv) Build PFM human and IT capacity.

The direct beneficiary is the State of Cameroon, through the Ministries and departments in charge of Finance, Economy and Planning and Regional Development. Specifically, the project will benefit the following institutions: DREF/ Ministry of Finance (MINFI), Directorate General of Taxes (DGI)/Ministry of Finance (MINFI), Autonomous Sinking Fund (CAA)/Ministry of Finance (MINFI), General Directorate of the Economy (DGE)/Ministry of Economy, Planning and Regional Development (MINEPAT), Ministry of Public Procurement (MINMAP), Public Procurements Regulatory Agency (ARMP), the Supreme State Audit Office and the Audit Bench. The private sector, particularly road sub-sector SMEs, including those managed by rural women and youths, are the indirect beneficiaries of PARGEFIP. The project's final beneficiaries are the population of the whole country.

Investment Description
  • African Development Bank (AFDB)
Contact Information

LUMBILA Kevin Numbi

k.lumbila@afdb.org

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.