Republic of Maldives

Name of Project:  Public Financial Management Systems Strengthening Project

Sector: Finance

Ministry of Finance and Treasury

                                                                                                                                 Project ID:P145317

The Government of the Republic of Maldives expects to receive financing in the amount of US$ 6.5 million equivalent from the International Development Association (IDA) of the World Bank towards the cost of the  Public Financial Management Systems Strengthening Project, Maldives, and it intends to apply part of the proceeds to payments for goods, related services and for consulting services to be procured under this project.

The objective of the Project is to enhance budget credibility, transparency, and financial reporting of central government finances.The project will include:

Strengthening the PFM Environment which will include

Review of the existing public financial management regulatory framework and the identification and recommendation of measures to improve such framework

-  the implementation of a communications strategy to support changes to the public financial management regulatory framework

-  Review and strengthening of the institutional framework of selected departments of the Ministry of Finance and Treasury.

- Strengthening economic and fiscal planning

- Development of a credible medium-term fiscal framework

- Training of staff on budget preparation and review guidelines

- The establishment of processes and techniques to prioritize capital projects

- Provision of information technology hardware and software systems

- the strengthening of medium-term debt management including through training of staff

-  effective cash management including through support for the improvement of cash management processes

Strengthening Budget Execution will include

- A business process review and implementation of its recommendations

- preparation and implementation of a master plan for public finance management related systems

- training for staff in Enterprise Software

- procurement of information technology hardware and software

- Establishment of hardware and Enterprise Software license maintenance arrangements and incentives for Enterprise Software experts

-  Strengthening of internal financial controls, internal audit, and procurement management practice

       Project Management will include

- Support to Ministry of Finance and Treasury for Project coordination, monitoring and evaluation, administration, communication, change management, financial management, and procurement.

Procurement of contracts will be conducted through the procedures as specified in the World Bank’s Guidelines: Procurement under IBRD Loans and IDA Credits and Grants by World Bank Borrowersdated January 2011, and is open to all eligible bidders as defined in the guidelines. Consulting services will be selected in accordance with the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits and Grants by World Bank Borrowers dated January 2011.

Specific procurement notices for contracts to be procured under the World Bank’s international competitive bidding (ICB) procedures and for contracts for consultancy services will be announced, as they become available, in UN Development Business online (UNDB online), Ministry of Finance and Treasury’s website  www.finance.gov.mv and National gazette of Maldives.

Interested eligible bidders who wish to be included on the mailing list to receive an invitation and/or those requiring additional information should use the contact and address below.

Mr. Mohamed Yamin

Project Co-ordinator

Public Financial Management System Strengthening Project

Ministry of Finance and Treasury,

Ameenee Magu, Male’, 20379

Republic of Maldives                                               

Tel: +(960) 334 9398

Fax: +(960) 332 4432 

Email: [email protected]