$ 10 Million for Financial Management in Nicaragua

The loan from the Inter-American Development Bank (IDB) will provide more efficiency and transparency in public expenditure.

Friday, October 15, 2010

Nicaragua will improve the efficiency and transparency of public expenditure and modernize the process and management systems of state finances with the help of a loan of U.S. $ 10 million from the Inter-American Development Bank (IDB).

The funds will help mobilize additional $ 10 million from the World Bank and U.S. $ 2.4 million from the European Union, which will implement a new management model for the public finance sector.

The adoption of the Integrated Administrative and Financial Management (SIGAF) will cut in half the time for preparation and publication of financial statements of the central administration, reducing the cost of government purchases, expanding public access to key fiscal information.

Under this system, all state agencies will be connected to the central communications network. This will allow the budget data, which is now published quarterly, a monthly disclosure on the website of the Ministry of Finance.



More on this topic

Nicaragua: $65 million for the Electricity Sector

October 2017

A loan from the Inter-American Development Bank will be used to finance the third phase of the Strengthening Program for the Electricity Sector.

From a statement issued by the Ministry of Finance:

October 27, 2017. Yesterday afternoon the Minister of Finance and Public Credit, Mr Iván Acosta Montalván representing the Government of Reconciliation and National Unity and representative of the Inter-American Development Bank (IDB), Mr. Baudouin Duquesne, signed the loan agreement "Program to Strengthen the Electricity Sector in Nicaragua" for the sum of US $65 million, with the purpose of financing the third phase of the Electricity Sector Strengthening Program.  

Panama: $ 200 Million to Improve Fiscal Management

December 2010

The IDB loan will support the implementation and framework of a modern fiscal policy based on international practices.

The IDB loan will support the implementation and framework of a modern fiscal policy based on international practices.

Panama will reform its tax laws and improve public management expenditures with a loan of U.S. $ 200 million approved by the Inter-American Development Bank (IDB).

Nicaragua will improve tax collection and improve social spending with IDB assistance

December 2009

A $40.5 million loan will prevent deterioration of fiscal situation due to the global recession.

The Inter-American Development Bank approved a $40.5 million loan to that will provide budget support for Nicaragua and help finance measures that will increase revenue collection and efficiency and transparency of budget execution.

Loan to improve government management in Guatemala

November 2008

The IDB will provide an $8.5 million loan for a project that seeks to increase efficiency and promote transparency in the Ministry of Finance.

The program will focus on improving the internal process of the Ministry and to seek responsibility for government spending.

The objective of the IDB is to help the ministry become an more modern and effective institution, the bank said in a release.

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