Strengthening Public Financial Management II Project (WB-P510280)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Marshall Islands
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 8, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of the Marshall Islands - Ministry of Finance, Banking and Postal Services
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Oct 10, 2026

Disclosed by Bank Mar 28, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the objective of this project is to improve timeliness and transparency of budget execution and financial reporting by the Ministry of Finance, Banking and Postal Services.

The Project builds on the achievements of PFM I to further support key strategic areas defined in GoRMI's PFM Reform Roadmap by addressing challenges in core institutional public finance capacity. Specifically, the project supports: i) improved PFM practices in accounting, financial reporting, procurement and internal audit as well as enhanced transparency and citizen engagement; ii) the modernization of PFM systems by supporting the decentralization and expansion in use of the FMIS; and iii) improved PFM capacity at both the institutional and individual levels. This includes supporting activities to build human resource capacity and improve technical competencies in MOFBPS. The project will improve institutional capacity by ensuring consistent guidance to foster policy coherence, increase automation to decrease reliance on scarce human resources and support a comprehensive program of mentoring and on-the-job training. The primary project beneficiary is the MOFBPS. Line ministries, state owned enterprises and other component units will also benefit from the project. The project activities focus on back-office PFM processes, information technology systems and capacity building for all civil servants performing core PFM functions, irrespective of administrative unit. Citizens of GoRMI will benefit indirectly from increased access to information on the use of public money.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The project is assessed to have low environmental and social risks. All the activities of the project are technical assistance type of activities. The project is not expected to support any physical infrastructure activities, or feasibility studies/technical design for future investment projects. These technical assistance activities are expected to have minor or negligible environmental and social impacts. The project is not expected to have any direct impact on natural habitats or cultural heritage sites, nor will it undertake any activity that results in physical or economic displacement. Project risks relate to labor management of professional office-based staff, privacy and data protection risks, and stakeholder engagement.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

A proposed grant in the amount of sdr 11 million (us$15 million equivalent).
Total Project Cost: US$ 15.00 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CONTACT POINT - World Bank

Task Team Leader: Bonnie Ann Sirois
Title: Senior Financial Management Specialist
Email: bsirois1@worldbank.org

TTL Contact: Elena Georgieva Georgieva-Andonovska
Job Title: Senior Public Sector Mgmt. Specialist
Email: egeorgievaandono@worldbank.org

Borrower/Client/Recipient
Republic of the Marshall Islands

Implementing Agencies
Ministry of Finance, Banking and Postal Services
Ayako Yamaguchi-Eliou
Secretary of Finance
yamaguchieliou@gmail.com

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works