VE PUBLIC EXPENDITURE MANAGEMENT

Abstract*

The objectives of the Public Expenditure Management Reform Project are to strengthen Venezuela's mechanisms of monitoring and control of public resources and to improve efficiency and accountability in public finance management. The six components are as follows: a) Deconcentration and decentralization of SIGECOF (Integrated System of Financial Management and Control of Public Finance); b) registry, administration, and control of non-financial; c)... Show More

Development Objective

The objective of the Project is to strengthen the Borrower's mechanisms of monitoring and control of public resources and to improve efficiency and accountabi lity in the management of the Borrower's public finances.

Key Details

Project Details

Project ID
P057601
Status
Closed
Team Leader
David F. Varela
Borrower 2
N/A

Country
Venezuela, Republica Bolivariana de
Disclosure Date
April 16, 1999
Approval Date
(as of board presentation)
June 29, 1999
Effective Date
July 18, 2000

Total Project Cost 1
US$ 20.00 million
Implementing Agency
N/A
Region
Latin America and Caribbean
Fiscal Year 3
1999

Commitment Amount
US$ 20.00 million
Environmental Category
C
Last Update Date
January 15, 2013
Closing Date
June 30, 2006

Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Fiscal Policy17%
- FY17 - Fiscal sustainability17%

FY17 - Public Sector Management

FY17 - Public Administration34%
- FY17 - Municipal Institution Building17%
- FY17 - Transparency, Accountability and Good Governance17%
FY17 - Public Finance Management34%
- FY17 - Debt Management17%
- FY17 - Public Expenditure Management17%
FY17 - Rule of Law18%
- FY17 - Judicial and other Dispute Resolution Mechanisms6%
- FY17 - Legal Institutions for a Market Economy6%
- FY17 - Personal and Property Rights6%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	20.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	20.00
IDA Commitment	N/A
IBRD + IDA Commitment	20.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	20.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jun 29, 1999	IBRD-45030	Loan Commitment	20,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Satisfactory	2006-06-21
Progress towards achievement of PDO	Satisfactory	2006-06-21
Procurement	Satisfactory	2006-06-21
Financial Management	Satisfactory	2006-06-21
Project Management	Satisfactory	2006-06-21
Counterpart Funding	Satisfactory	2006-06-21
Monitoring and Evaluation	Satisfactory	2006-06-21

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 04-30-2007
Outcomes	Substantial
Risk to Development Outcome	Modest
Bank Performance	Substantial
Borrower Performance	Substantial
Government Performance	Substantial
Implementing Agency	Substantial

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 08-16-2007	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Unsatisfactory	N/a
Risk To Development Outcome	High	N/a
Bank Performance	Satisfactory	N/a
Borrower Performance	Unsatisfactory	N/a
Government Performance	Highly Unsatisfactory	N/a
Implementing Agency	Unsatisfactory	N/a
Icr Quality	Satisfactory	N/a
M&e Quality	Modest	N/a

Results Framework