| Financier | Commitments |
|---|---|
| BT:PFM Multi Donor Trust Fund | 4.00 |
P162196
Closed
Savinay Grover
KINGDOM OF BHUTAN
February 14, 2017
(as of board presentation)
September 20, 2017
September 21, 2017
US$ 4.00 million
Ministry of Finance, Department of Public Accounts
2018
US$ 4.00 million
N/A
Not Applicable
June 30, 2023
Bank Approved
March 28, 2024
| Financier | Commitments |
|---|---|
| BT:PFM Multi Donor Trust Fund | 4.00 |
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | N/A |
| Lending Instrument | |
|---|---|
| Grant Amount | 4.00 |
| Total Project Cost** | 4.00 |
| Name | Review | Date |
|---|---|---|
| Overall | Moderable | 2022-11-04 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2022-11-04 |
| Progress towards achievement of PDO | Satisfactory | 2022-11-04 |
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 01-08-2024 |
|---|---|
| Outcomes | Substantial |
| Risk to Development Outcome | |
| Bank Performance | Substantial |
| Borrower Performance | |
| Government Performance | |
| Implementing Agency |
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
| Enhanced controls in budget execution and disclosure of key fiscal information | Value | 2016 PEFA Assessment(refer Annex 4 on Summary of | Enhanced controls in budget execution and disclosu | Of the 8 indicators, 6 are Achieved: • AFS of ex |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Reduced procurement cycle time through increase in percentage of contracts/bids invited through e-GP using national competitive bidding (NCB) , in selected MoE, MoF and MoWHS | Value | 0% of bids invited through e-GP using NCB Procu | 75% of bids invited through e-GP using NCBand | The e-GP system processed 90 percent tenders of th |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
| Clustering of Financial Services - country wide | Value | No accounting cluster offices at decentralized lev | Country wide accounting cluster offices establishe | Achieved (27 CFS established) |
| Date | June 30, 2020 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Economic analysis of investment proposals | Value | PI-11.1 dimension score is C | PI-11.1 dimension score improved to B. | Not Achieved. |
| Date | June 30, 2020 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Enhanced contents in Budget Report consistent with international good practices including gender and climate change aspects | Value | N/A | Budget Report, consistent with revised template pu | Achieved:The report was revised, published, and i |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Improved efficiency of internal audit function - number of internal audit engagements annually | Value | 109 | 200 | Partly Achieved (127 engagements due to Covid-19 p |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Improved presentation of National annual financial statements consistent with international standards | Value | National annual financial statements presented not | National annual financial statements presented as | Achieved. FY 2022-23 financial statements publishe |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Improvement in quality assurance process within internal audit function based on methodology of the IIA | Value | Baseline to be established in year 1 | Repeat self-assessment indicates improvement over | Partly Achieved. Repeat self-assessment based on n |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Increased number of companies in compliance with BAS Phase I and II | Value | 0.00 | 49.00 | 44.00 |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Increased number of systems/thematic (performance or value for money) audits undertaken by Internal Audit - number of audits undertaken annually | Value | 1 | 5 | 5 |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| PFM information systems integrated | Value | PFM information systems with minimum integration | Integration of PFM information systems | Achieved |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Public Procurement Bill approved by the Cabinet | Value | No Bill | Public Procurement Bill approved by the Cabinet | Not Achieved. (It was decided not to have a separa |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Setting the legal and operational environment for GST implementation | Value | No GST legislation | GST introduced in Bhutan | Partly Achieved: Cabinet approved it on January 17 |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |
| Strengthening of PEMS | Value | Gaps in Payroll and bank reconciliation functional | PEMS strengthened with Payroll control, bank recon | Achieved: Initiation of e-Payment project covering |
| Date | September 1, 2017 | November 30, 2022 | December 13, 2023 | |
| Comment |