Public Finance Management Technical Assistance Project

Abstract*

The objective of the Public Finance Management (PFM) Technical Assistance Project for Russian Federation is to improve transparency and results focus in public financial management and build institutional foundations for improved budget efficiency, effectiveness, and accountability. The project has five components. The first component is tax policy and administration. This component strengthens the revenue base of government by modernizing important... Show More

Development Objective

To improve transparency and results focus in public financial management and build institutional foundations for improved budget efficiency, effectiveness and accountability.

Key Details

Project Details

Project ID
P122998
Status
Closed
Team Leader
Mayya Gusarova
Borrower 2
Ministry of Finance

Country
Russian Federation
Disclosure Date
March 14, 2011
Approval Date
(as of board presentation)
September 13, 2013
Effective Date
March 19, 2014

Total Project Cost 1
US$ 133.57 million
Implementing Agency
Non-commercial Foundation for Enterprise Restructuring and Financial Institutions Development
Region
Europe and Central Asia
Fiscal Year 3
2014

Commitment Amount
US$ 50.00 million
Environmental Category
C
Last Update Date
July 15, 2022
Closing Date
December 31, 2017

Consultant Services required
Yes
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 Policy8%
- FY17 - Tax policy8%

FY17 - Public Sector Management

FY17 - Public Administration62%
- FY17 - E-Government, incl. e-services21%
- FY17 - Municipal Institution Building11%
- FY17 - Transparency, Accountability and Good Governance30%
FY17 - Public Finance Management30%
- FY17 - Domestic Revenue Administration8%
- FY17 - Public Expenditure Management22%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	50.00
Borrower/Recipient	83.57

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	50.00
IDA Commitment	N/A
IBRD + IDA Commitment	50.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	133.57

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$)
Jan 30, 2015	IBRD-82880	Loan Disb	138,430.31
Apr 7, 2014	IBRD-82880	Loan Disb	300,000.00
Apr 1, 2014	IBRD-82880	Fee Charges	125,000.00
Oct 26, 2015	IBRD-82880	Loan Disb	386,428.70
Nov 12, 2015	IBRD-82880	Loan Disb	56,696.64
Dec 28, 2015	IBRD-82880	Loan Disb	2,000,000.00
Aug 19, 2015	IBRD-82880	Loan Disb	437,421.03
May 29, 2015	IBRD-82880	Loan Disb	50,000.00
Jul 7, 2015	IBRD-82880	Loan Disb	257,962.12
Aug 15, 2015	IBRD-82880	Int Charges	38.76
Aug 15, 2015	IBRD-82880	Int Charges	2,712.11
Aug 12, 2014	IBRD-82880	Loan Disb	128,594.98
Aug 15, 2014	IBRD-82880	Int Charges	650.00
Feb 15, 2015	IBRD-82880	Int Charges	6.43
Feb 15, 2015	IBRD-82880	Int Charges	1,721.59
Apr 6, 2016	IBRD-82880	Loan Disb	486,131.60
Aug 15, 2021	IBRD-82880	Int Charges	72,628.18
Aug 15, 2021	IBRD-82880	Loan Repay	943,461.75
Feb 15, 2021	IBRD-82880	Loan Repay	943,461.75
Feb 15, 2021	IBRD-82880	Int Charges	89,007.92
Dec 16, 2022	IBRD-82880	Int Charges	28,908.30
Dec 16, 2022	IBRD-82880	Int Charges	291,219.22
Dec 16, 2022	IBRD-82880	Int Charges	236,096.20
Dec 16, 2022	IBRD-82880	Loan Repay	16,957,806.00
Aug 15, 2022	IBRD-82880	Loan Repay	943,461.75
Aug 15, 2022	IBRD-82880	Int Charges	105,578.51
Feb 15, 2022	IBRD-82880	Loan Repay	943,461.75
Feb 15, 2022	IBRD-82880	Int Charges	66,459.08
Sep 13, 2013	IBRD-82880	Loan Commitment	50,000,000.00
Apr 30, 2018	IBRD-82880	Loan Cancel	3,994,500.20
Feb 15, 2018	IBRD-82880	Int Charges	205,940.38
Dec 28, 2017	IBRD-82880	Loan Disb	647,930.06
Dec 8, 2017	IBRD-82880	Loan Disb	300,000.00
Dec 8, 2017	IBRD-82880	Loan Disb	1,304,281.60
Apr 25, 2018	IBRD-82880	Loan Disb	-124,111.04
Dec 29, 2017	IBRD-82880	Loan Disb	922,300.80
Feb 15, 2019	IBRD-82880	Int Charges	374,498.47
Feb 15, 2019	IBRD-82880	Loan Repay	568,963.25
Feb 15, 2019	IBRD-82880	Loan Repay	374,498.47
Aug 15, 2020	IBRD-82880	Int Charges	239,979.62
Aug 15, 2020	IBRD-82880	Loan Repay	703,482.10
Aug 15, 2020	IBRD-82880	Loan Repay	239,979.62
Feb 15, 2020	IBRD-82880	Int Charges	291,327.25
Feb 15, 2020	IBRD-82880	Loan Repay	943,461.75
Aug 15, 2019	IBRD-82880	Loan Repay	943,461.75
Aug 15, 2019	IBRD-82880	Int Charges	383,825.62
Apr 26, 2016	IBRD-82880	Loan Disb	800,000.00
Dec 21, 2015	IBRD-82880	Loan Disb	500,000.00
Feb 15, 2016	IBRD-82880	Int Charges	12,644.45
Dec 4, 2015	IBRD-82880	Loan Disb	373,896.60
Nov 23, 2015	IBRD-82880	Loan Disb	1,020,900.25
Feb 15, 2016	IBRD-82880	Int Charges	198.42
Nov 16, 2015	IBRD-82880	Loan Disb	54,806.76
Nov 20, 2015	IBRD-82880	Loan Disb	429,233.62
Oct 28, 2015	IBRD-82880	Loan Disb	-995.26
Oct 28, 2015	IBRD-82880	Loan Disb	-55,701.38
Dec 14, 2015	IBRD-82880	Loan Disb	289,363.44
Oct 28, 2015	IBRD-82880	Loan Disb	56,696.64
Oct 28, 2015	IBRD-82880	Loan Disb	51,918.76
Sep 8, 2015	IBRD-82880	Loan Disb	150,000.00
Feb 15, 2017	IBRD-82880	Int Charges	1,992.21
Feb 15, 2017	IBRD-82880	Int Charges	95,920.07
Aug 15, 2016	IBRD-82880	Int Charges	3,045.00
Aug 15, 2016	IBRD-82880	Int Charges	48,602.33
Jun 10, 2016	IBRD-82880	Loan Disb	500,000.00
Jun 29, 2016	IBRD-82880	Loan Disb	1,000,000.00
Nov 18, 2016	IBRD-82880	Loan Disb	2,194,344.80
Sep 13, 2016	IBRD-82880	Loan Disb	500,000.00
Jun 30, 2016	IBRD-82880	Loan Disb	245,833.94
Dec 29, 2016	IBRD-82880	Loan Disb	1,255,776.00
Oct 11, 2016	IBRD-82880	Loan Disb	500,000.00
Nov 1, 2017	IBRD-82880	Loan Disb	2,075,867.90
Aug 15, 2017	IBRD-82880	Int Charges	2,695.73
Aug 15, 2017	IBRD-82880	Int Charges	141,489.28
Nov 7, 2017	IBRD-82880	Loan Cancel	21,500,000.00
Aug 21, 2017	IBRD-82880	Loan Disb	2,486,196.00
May 1, 2017	IBRD-82880	Loan Disb	2,614,111.80
Aug 15, 2018	IBRD-82880	Int Charges	4,033.23
Aug 15, 2018	IBRD-82880	Int Charges	311,084.12
Oct 24, 2014	IBRD-82880	Loan Disb	171,183.20

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Moderately Satisfactory	2017-12-29
Financial Management	Satisfactory	2017-12-29
Progress towards achievement of PDO	Moderately Unsatisfactory	2017-12-29
Counterpart Funding	Satisfactory	2017-12-29
Procurement	Satisfactory	2017-12-29
Monitoring and Evaluation	Moderately Satisfactory	2017-12-29
Overall Implementation Progress (IP)	Moderately Satisfactory	2017-12-29

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-19-2018
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 01-31-2019	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance	Not Rated	N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of regions with PFM quality satisfactory to MOF Value 71.00 76.00 78.00
Date June 3, 2013 June 3, 2013 December 31, 2017
Comment
Coverage of the federal budget appropriations with performance indicators depicting goals and results of budget implementation Value 1.30 90.00 55.00
Date June 3, 2013 June 3, 2013 December 31, 2017
Comment
Maximum time spent on tax calculation and payment by SMEs (within Doing Business rating) Value 290.00 160.00 168.00
Date June 3, 2013 June 3, 2013 December 31, 2017
Comment
Open budget index (calculated by International budget partnership) Value 74.00 80.00 72.00
Date June 3, 2013 June 3, 2013 January 30, 2018
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Implementation of the Government budget reform Program till 2018	Value	The Program is drafted, but not approved	The Program is approved by the Government and impl	The program was approved by the Government Decisio
	Date	October 12, 2012	June 3, 2013	December 31, 2017
	Comment

Internal audit is introduced at the federal level in Russia	Value	Internal audit function is not implemented The n	Internal audit standards are adopted. 70% of feder	IA standards were developed. Adoption requires leg
	Date	October 12, 2012	November 7, 2017	December 31, 2017
	Comment

Federal standards for accounting and financial reporting in the public sector, based on IPSAS, are developed and implemented	Value	5 federal accounting standards drafted but not imp	28 federal standards approved by the MOF Order	28 federal standards have been developed and passe
	Date	October 12, 2012	November 7, 2017	December 31, 2017
	Comment

Ratio of tax declarations sent electronically through the created IT infrastructure Value 53.00 72.00 72.00
Date September 13, 2013 November 7, 2017 December 31, 2017
Comment

Reformed tax regime for oil and gas sector	Value	Fiscal reforms set out in Instruction #700-p of Ma	Amendments to the relevant regulation on oil taxat	Tax "manouver" implemented, Draft Law on Amendment
	Date	October 12, 2012	November 7, 2017	December 31, 2017
	Comment

Improved results focus in annual and 3 year budgets through transition to program budgeting	Value	Budget allocations are not linked with strategic p	3 year budget is approved on the basis of state pr	After temporary suspension of 3 year budgeting fed
	Date	October 12, 2012	June 3, 2013	December 31, 2017
	Comment

Number of RF subjects in which the share of subsidies from the federal budget during two of three latest reporting fiscal years exceeded 40 percent of own revenues of the consolidated budget of RF sub	Value	7.00	6.00	6.00
	Date	January 1, 2014	November 7, 2017	December 31, 2017
	Comment

Index of impact of results from implementation of E-Budget system on indicators that reflect quality of financial management of thechief administrators of budget funds	Value	67.50	79.00	76.00
	Date	September 13, 2013	November 7, 2017	December 31, 2017
	Comment

Reduction of time for processing documents due to implementation of E-Budget system Value 0.00 20.00 15.00
Date September 13, 2013 November 7, 2017 December 31, 2017
Comment

Percentage of expenditures of consolidated budgets of RF subjects generated under the programs in the total amount of expenditures of RF subjects	Value	60.00	84.00	92.20
	Date	September 13, 2013	November 7, 2017	December 31, 2017
	Comment

Increase in the share of information published on the single budget system portal which is automatically generated based on E-Budget system data	Value	0.00	80.00	30.00
	Date	September 13, 2013	November 7, 2017	December 31, 2017
	Comment

Number of regions with PFM quality satisfactory to MOF	Value	71.00	76.00	78.00
	Date	June 3, 2013	June 3, 2013	December 31, 2017
	Comment

Coverage of the federal budget appropriations with performance indicators depicting goals and results of budget implementation	Value	1.30	90.00	55.00
	Date	June 3, 2013	June 3, 2013	December 31, 2017
	Comment

Maximum time spent on tax calculation and payment by SMEs (within Doing Business rating)	Value	290.00	160.00	168.00
	Date	June 3, 2013	June 3, 2013	December 31, 2017
	Comment

Open budget index (calculated by International budget partnership)	Value	74.00	80.00	72.00
	Date	June 3, 2013	June 3, 2013	January 30, 2018
	Comment

Ratio of tax declarations sent electronically through the created IT infrastructure	Value	53.00	72.00	72.00
	Date	September 13, 2013	November 7, 2017	December 31, 2017
	Comment