The World Bank (WB) will provide $100 million to Bangladesh government for improving public service delivery through an effective, efficient and transparent public financial management system, a statement of WB said.

A financing agreement was signed between the Government of Bangladesh and World Bank at the Economic Relations Division (ERD) in Dhaka’s Sher-e-Bangla Nagar today.

Monowar Ahmed, secretary of the ERD, and Dandan Chen, acting country director of the WB in Bangladesh, signed the agreement on behalf of their respective government and organisation.

The Strengthening Public Financial Management (PFM) Programme to Enable Service Delivery will support the Bangladesh government’s PFM Action Plan 2016-2021. The programme will help improve fiscal forecasting, public budget preparation and execution, as well as enhance financial reporting and transparency in the ministries of education and health, finance division, local government division, roads, public works, and local government, the WB said.

“An efficient public financial management system is essential for sound macroeconomic management,” Dandan Chen said.   

“The programme will build on the successes of the government’s ongoing efforts to help public agencies strengthen oversight and improve availability of public resources for effective and efficient public service delivery,” he added.