African Development Bank Board of Directors (www.AfDB.org) on Wednesday approved the establishment of virtual academies to build public financial management capacity in African countries. Countries will receive technical assistance through structured, targeted, dedicated and local training and through policy dialogue.
The Academy, hosted within the African Development Bank Group’s African Development Institute, will deepen partnerships with the International Monetary Fund, World Bank and African countries to improve public financial management practices in Africa. Other implementing partners include key local public financial management institutions, local technical assistance centers, universities, and national public administration training institutes.
The training, technical assistance and policy dialogue delivered by the academy will cover upstream and downstream issues in the public finance management cycle, tailored to the specific needs of African countries.
The training modules will cover, inter alia: macroeconomics and planning, forecasting and modeling of fiscal policy; prudent budget and expenditure management; domestic and external revenue mobilization; debt management and transparency; public-private partnership in the management of public finances; strengthening the highest level of audit and accountability system; and curbing corruption and illicit financial flows. In addition, cross-sectoral issues will also be considered, including institutional, legal and regulatory processes as well as human capacity governance.
Beneficiaries of this training include all African civil servants, including technical and political leaders who have the power to influence and change public financial management systems in African countries. As such, the academy will welcome technical public finance managers and senior officials from ministries of finance, national planning, budget directorates, debt management directorates, and revenue-generating agencies, including tax and customs administrations.
In addition, the academy will target all officials involved in the expenditure chain (officials from the national treasury, the administrative and finance directorates of the ministry in charge of spending and financial control), officials from the central bank and sectoral ministries such as the environment. Also targeted were relevant agencies, parliamentarians, academics, private sector leaders and civil society organizations and think tanks.
The Academy will also provide the necessary technical assistance to the relevant institutions responsible for the management of public finances. It will seek and build partnerships with national public administration training institutions, to effectively deliver tailor-made capacity building programs for civil servants.
Prof. Kevin Chika Urama, Acting Chief Economist and Vice President for Economic Governance and Knowledge Management of the African Development Bank, said: “The establishment of the Public Finance Management Academy will go a long way in addressing longstanding capacity gaps in society. financial management practices in African countries. This will enable the Bank to leverage the resources (skills, competencies and finances) of sister multilateral development banks, international and African public financial management institutions to provide cutting-edge training, technical assistance and policy advice, embedded in the local realities of African countries. . I am deeply grateful to all the partners who worked with us to design this transformative academy for Africa.”
The policy dialogue component of the program will engage high-level decision makers and policy makers who are responsible for designing and promoting the desired changes in Africa’s public financial management system.
The technical assistance component will target the relevant public institutions or units thereof, civil society organizations and think tanks, which are involved in public financial management activities in Africa, including the media.
When fully operational, academy courses will be offered to interested parties as certified postgraduate courses at preferential rates.
The Bank will establish a Policy Laboratory Unit consisting of certified global experts on public financial management who will become faculty members to deliver the course. Members of the Policy Laboratory Unit, to be retained on an as-needed basis, will be recruited from Bank Groups, multilateral agencies, bilateral and regional agencies, African universities and think tanks, and individual experts on key subjects of interest.
Each member of the academic institution will provide specific interventions according to its mandate and comparative advantage.
Distributed by the APO Group on behalf of the African Development Bank Group (AfDB).
Romaric Olo Hien
Department of Communication and External Relations
About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development financial institution. It consists of three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigerian Trust Fund (NTF). In 41 African countries with external offices in Japan, the Bank contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org
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African Development Bank to Launch Public Finance Management Academy to Build Capacity in African Countries
Source link African Development Bank to Launch Public Finance Management Academy to Build Capacity in African Countries