Modernization of Public Finance Management

Abstract*

The development objective of the Modernization of Public Finance Management (PFM) Project for Myanmar is to support efficient, accountable, and responsive delivery of public services through the modernization of Myanmar's PFM systems and strengthening institutional capacity. The project has five components. The first component will support developing systems and procedures for capturing more revenues from natural resource sectors on-budget and addressing... Show More

Development Objective

The development objective of the project is to support efficient, accountable and responsive delivery of public services through the modernization of Myanmar’s PFM systems and strengthening institutional capacity.

Key Details

Project Details

Project ID
P144952
Status
Closed
Team Leader
Fabian Seiderer , Bonnie Sirois, Pike Aye
Borrower 2
The Republic of the Union of Myanmar

Country
Myanmar
Disclosure Date
February 11, 2014
Approval Date
(as of board presentation)
April 2, 2014
Effective Date
October 9, 2014

Total Project Cost 1
US$ 55.00 million
Implementing Agency
Office of the Auditor General of the Union,Myanma Economic Bank (MEB),Joint Public Accounts Committee
Region
East Asia And Pacific
Fiscal Year 3
2014

Commitment Amount
US$ 55.00 million
Environmental Category
C
Last Update Date
November 30, 2023
Closing Date
March 31, 2021

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 Policy15%
- FY17 - Fiscal sustainability4%
- FY17 - Tax policy11%

FY17 - Public Sector Management

FY17 - Public Administration49%
- FY17 - E-Government, incl. e-services9%
- FY17 - Transparency, Accountability and Good Governance40%
FY17 - Public Finance Management38%
- FY17 - Debt Management4%
- FY17 - Domestic Revenue Administration11%
- FY17 - Public Expenditure Management23%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	30.00
Myanmar Strategic Partnership	25.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	30.00
IBRD + IDA Commitment	30.00

Lending Instrument
Grant Amount	25.00
Total Project Cost**	55.00

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

No data available.

Detailed Financial Activity as of January 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Feb 1, 2022	IDA-54020	Int Charges	22,327.57
Feb 1, 2022	IDA-54020	Int Charges	22,327.57
Aug 1, 2022	IDA-54020	Int Charges	3,131.68
Aug 1, 2022	IDA-54020	Int Charges	3,131.68
Aug 1, 2022	IDA-54020	Int Charges	5,436.36
Aug 1, 2022	IDA-54020	Int Charges	5,436.36
Aug 1, 2022	IDA-54020	Int Charges	20,917.68
Aug 1, 2022	IDA-54020	Int Charges	20,917.68
Aug 1, 2022	IDA-54020	Int Charges	1,326.55
Aug 1, 2022	IDA-54020	Int Charges	1,326.55
Aug 1, 2022	IDA-54020	Int Charges	6,104.24
Aug 1, 2022	IDA-54020	Int Charges	6,104.24
Aug 1, 2022	IDA-54020	Int Charges	4,100.67
Aug 1, 2022	IDA-54020	Int Charges	4,100.67
Aug 1, 2022	IDA-54020	Int Charges	16,626.57
Aug 1, 2022	IDA-54020	Int Charges	16,626.57
Sep 9, 2022	IDA-54020	Loan Disb	145,680.38
Feb 1, 2022	IDA-54020	Int Charges	6,515.71
Feb 1, 2022	IDA-54020	Int Charges	6,515.71
Feb 3, 2022	IDA-54020	Int Charges	5,844.26
Feb 3, 2022	IDA-54020	Int Charges	5,844.26
Feb 1, 2022	IDA-54020	Int Charges	979.40
Feb 1, 2022	IDA-54020	Int Charges	979.40
Feb 1, 2022	IDA-54020	Int Charges	1,257.48
Feb 1, 2022	IDA-54020	Int Charges	1,257.48
Feb 1, 2022	IDA-54020	Int Charges	16,420.73
Feb 1, 2022	IDA-54020	Int Charges	16,420.73
Feb 1, 2022	IDA-54020	Int Charges	16,903.53
Sep 9, 2022	IDA-54020	Loan Disb	-145,680.38
Sep 14, 2021	IDA-54020	Loan Disb	171,870.10
Feb 1, 2023	IDA-54020	Int Charges	1,374.53
Feb 1, 2023	IDA-54020	Int Charges	1,374.53
Feb 24, 2023	IDA-54020	Int Charges	74,714.86
Feb 24, 2023	IDA-54020	Int Charges	74,714.86
Aug 25, 2023	IDA-54020	Int Charges	423.05
Aug 25, 2023	IDA-54020	Int Charges	423.05
Aug 25, 2023	IDA-54020	Int Charges	75,376.32
Jul 7, 2021	IDA-54020	Loan Disb	-169,915.45
Jul 7, 2021	IDA-54020	Loan Disb	-214,606.25
Feb 13, 2017	IDA-54020	Loan Disb	8,621.55
Dec 5, 2016	IDA-54020	Loan Disb	4,011.22
Aug 1, 2016	IDA-54020	Int Charges	8.76
Aug 1, 2016	IDA-54020	Int Charges	8.76
Aug 1, 2016	IDA-54020	Int Charges	7,139.64
Aug 1, 2016	IDA-54020	Int Charges	7,139.64
Feb 27, 2017	IDA-54020	Loan Disb	221,696.72
Jun 21, 2017	IDA-54020	Loan Disb	8,078.82
Jun 26, 2017	IDA-54020	Loan Disb	22,910.95
May 31, 2017	IDA-54020	Loan Disb	3,600,000.00
Jun 5, 2017	IDA-54020	Loan Disb	398,177.22
Feb 22, 2017	IDA-54020	Loan Disb	360,000.00
Jul 31, 2017	IDA-54020	Loan Disb	168,608.16
Aug 1, 2017	IDA-54020	Int Charges	497.66
Aug 1, 2017	IDA-54020	Int Charges	497.66
Aug 1, 2017	IDA-54020	Int Charges	24,156.69
Aug 1, 2017	IDA-54020	Int Charges	24,156.69
Nov 30, 2017	IDA-54020	Loan Disb	1,016,073.10
Jul 25, 2017	IDA-54020	Loan Disb	104,582.54
Nov 27, 2017	IDA-54020	Loan Disb	2,100,000.00
Dec 4, 2014	IDA-54020	Loan Disb	150,000.00
Dec 19, 2014	IDA-54020	Loan Disb	11,707.31
Dec 9, 2014	IDA-54020	Loan Disb	468,292.66
Dec 16, 2014	IDA-54020	Loan Disb	60,000.01
Jul 27, 2015	IDA-54020	Loan Disb	8,148.68
Aug 1, 2015	IDA-54020	Int Charges	719.62
Aug 1, 2015	IDA-54020	Int Charges	719.62
Aug 1, 2015	IDA-54020	Int Charges	2,461.53
Aug 1, 2015	IDA-54020	Int Charges	2,461.53
Feb 1, 2016	IDA-54020	Int Charges	15.03
Feb 1, 2016	IDA-54020	Int Charges	15.03
Feb 1, 2016	IDA-54020	Int Charges	3,028.54
Feb 1, 2016	IDA-54020	Int Charges	3,028.54
Oct 30, 2015	IDA-54020	Loan Disb	300,000.00
Apr 6, 2016	IDA-54020	Loan Disb	46,204.10
Mar 4, 2016	IDA-54020	Loan Disb	4,702.29
May 19, 2016	IDA-54020	Loan Disb	10,208.49
Aug 1, 2021	IDA-54020	Int Charges	6,333.84
Aug 1, 2021	IDA-54020	Int Charges	6,333.84
Jun 1, 2018	IDA-54020	Loan Disb	387,177.20
Aug 1, 2018	IDA-54020	Int Charges	1,071.90
Aug 1, 2018	IDA-54020	Int Charges	1,071.90
Aug 1, 2018	IDA-54020	Int Charges	53,731.27
Aug 1, 2018	IDA-54020	Int Charges	53,731.27
Jul 16, 2018	IDA-54020	Loan Disb	68,564.41
Jun 14, 2018	IDA-54020	Loan Disb	160,710.10
May 30, 2018	IDA-54020	Loan Disb	2,940,000.00
Feb 4, 2019	IDA-54020	Loan Disb	366,143.40
Feb 1, 2019	IDA-54020	Int Charges	94.31
Feb 1, 2019	IDA-54020	Int Charges	94.31
Feb 15, 2019	IDA-54020	Loan Disb	286,104.34
Feb 1, 2019	IDA-54020	Int Charges	62,309.88
Feb 1, 2019	IDA-54020	Int Charges	62,309.88
May 15, 2019	IDA-54020	Loan Disb	590,574.44
Jun 24, 2019	IDA-54020	Loan Disb	789,442.50
Feb 1, 2017	IDA-54020	Int Charges	13,641.66
Feb 1, 2017	IDA-54020	Int Charges	13,641.66
May 16, 2016	IDA-54020	Loan Disb	1,800,000.00
May 19, 2016	IDA-54020	Loan Disb	387,210.00
Dec 1, 2016	IDA-54020	Loan Disb	300,353.50
Sep 7, 2016	IDA-54020	Loan Disb	300,000.00
Nov 28, 2016	IDA-54020	Loan Disb	900,000.00
Feb 1, 2017	IDA-54020	Int Charges	30.04
Feb 1, 2017	IDA-54020	Int Charges	30.04
Jun 20, 2019	IDA-54020	Loan Disb	60,249.18
Apr 5, 2019	IDA-54020	Loan Disb	7,790.79
Aug 28, 2019	IDA-54020	Loan Disb	873,703.50
Apr 1, 2019	IDA-54020	Loan Disb	39,318.67
Aug 28, 2019	IDA-54020	Loan Disb	4,964.69
Aug 27, 2019	IDA-54020	Loan Disb	121,198.13
Aug 1, 2019	IDA-54020	Int Charges	65,463.12
Aug 1, 2019	IDA-54020	Int Charges	65,463.12
Aug 1, 2019	IDA-54020	Int Charges	672.49
Aug 1, 2019	IDA-54020	Int Charges	672.49
Sep 30, 2019	IDA-54020	Loan Disb	7,123.94
Mar 31, 2020	IDA-54020	Loan Disb	7,666.90
Jan 9, 2020	IDA-54020	Loan Disb	164,522.16
Feb 1, 2020	IDA-54020	Int Charges	267.64
Feb 1, 2020	IDA-54020	Int Charges	267.64
Feb 1, 2020	IDA-54020	Int Charges	73,025.55
Mar 12, 2018	IDA-54020	Loan Disb	482,130.28
Feb 1, 2018	IDA-54020	Int Charges	1,048.97
Feb 1, 2018	IDA-54020	Int Charges	1,048.97
Feb 1, 2018	IDA-54020	Int Charges	40,944.07
Feb 1, 2018	IDA-54020	Int Charges	40,944.07
Mar 9, 2018	IDA-54020	Loan Disb	20,207.67
Sep 20, 2018	IDA-54020	Loan Disb	37,475.13
Aug 25, 2023	IDA-54020	Int Charges	75,376.32
Sep 21, 2023	IDA-54020	Loan Cancel	5,860,224.00
Aug 5, 2024	IDA-54020	Loan Repay	202,389.40
Aug 5, 2024	IDA-54020	Int Charges	72,767.56
Aug 5, 2024	IDA-54020	Int Charges	72,767.56
Aug 1, 2024	IDA-54020	Loan Repay	535.46
Feb 1, 2024	IDA-54020	Int Charges	179.37
Feb 1, 2024	IDA-54020	Int Charges	179.37
Feb 15, 2024	IDA-54020	Int Charges	74,969.39
Feb 15, 2024	IDA-54020	Int Charges	74,969.39
Apr 2, 2014	IDA-54020	Loan Commitment	30,000,000.00
Feb 1, 2022	IDA-54020	Int Charges	16,903.53
Feb 1, 2022	IDA-54020	Int Charges	5,802.81
Feb 1, 2022	IDA-54020	Int Charges	5,802.81
Feb 1, 2022	IDA-54020	Int Charges	3,342.70
Feb 1, 2022	IDA-54020	Int Charges	3,342.70
Aug 1, 2021	IDA-54020	Int Charges	18,450.61
Aug 1, 2021	IDA-54020	Int Charges	18,450.61
Aug 1, 2021	IDA-54020	Int Charges	19,371.46
Aug 1, 2021	IDA-54020	Int Charges	19,371.46
Aug 1, 2021	IDA-54020	Int Charges	6,379.12
Aug 1, 2021	IDA-54020	Int Charges	6,379.12
Aug 1, 2021	IDA-54020	Int Charges	1,372.63
Aug 1, 2021	IDA-54020	Int Charges	1,372.63
Aug 1, 2021	IDA-54020	Int Charges	7,112.00
Aug 1, 2021	IDA-54020	Int Charges	7,112.00
Aug 1, 2021	IDA-54020	Int Charges	2,669.29
Aug 1, 2021	IDA-54020	Int Charges	2,669.29
Sep 14, 2021	IDA-54020	Loan Disb	-443,590.47
Aug 1, 2022	IDA-54020	Int Charges	15,836.18
Aug 1, 2022	IDA-54020	Int Charges	15,836.18
Aug 1, 2022	IDA-54020	Int Charges	1,178.10
Aug 1, 2022	IDA-54020	Int Charges	1,178.10
Feb 1, 2020	IDA-54020	Int Charges	73,025.55
Jun 23, 2020	IDA-54020	Loan Disb	194,033.83
Aug 13, 2020	IDA-54020	Loan Disb	7,116.93
Jun 18, 2020	IDA-54020	Loan Disb	180,000.00
Oct 7, 2020	IDA-54020	Loan Disb	14,306.81
Nov 12, 2020	IDA-54020	Loan Disb	571,045.20
Sep 23, 2020	IDA-54020	Loan Disb	3,881.27
Aug 1, 2020	IDA-54020	Int Charges	299.13
Aug 1, 2020	IDA-54020	Int Charges	299.13
Aug 1, 2020	IDA-54020	Int Charges	74,131.28
Aug 1, 2020	IDA-54020	Int Charges	74,131.28
Sep 10, 2020	IDA-54020	Loan Disb	5,737.24
Sep 14, 2020	IDA-54020	Loan Disb	183,552.48
Jul 15, 2020	IDA-54020	Loan Disb	6,701.03
Oct 21, 2020	IDA-54020	Loan Disb	7,438.52
Nov 9, 2020	IDA-54020	Loan Disb	976,000.00
Dec 14, 2020	IDA-54020	Loan Disb	2,954.87
Dec 3, 2020	IDA-54020	Loan Disb	19,182.81
Feb 1, 2021	IDA-54020	Int Charges	2,640.73
Feb 1, 2021	IDA-54020	Int Charges	2,640.73
Feb 1, 2021	IDA-54020	Int Charges	81,983.36
Feb 1, 2021	IDA-54020	Int Charges	81,983.36
Jul 7, 2021	IDA-54020	Loan Disb	169,915.45
Jul 7, 2021	IDA-54020	Loan Disb	214,606.25
Sep 14, 2021	IDA-54020	Loan Disb	-9.58
Aug 13, 2021	IDA-54020	Loan Disb	-874,084.50
Aug 16, 2021	IDA-54020	Loan Disb	-144.75
Aug 1, 2021	IDA-54020	Int Charges	573.01
Aug 1, 2021	IDA-54020	Int Charges	573.01
Aug 1, 2021	IDA-54020	Int Charges	23,797.99
Aug 1, 2021	IDA-54020	Int Charges	23,797.99

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2020-10-26
Financial Management	Satisfactory	2020-10-26
Monitoring and Evaluation	Satisfactory	2020-10-26
Procurement	Moderately Satisfactory	2020-10-26
Overall Implementation Progress (IP)	Moderately Unsatisfactory	2020-10-26
Project Management	Satisfactory	2020-10-26

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 11-10-2022
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW:	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	Modest	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Increase in Tax collection from Large Taxpayers	Value	Baseline: Taxes collected by LTO in FY 2015-2016 w	Taxes collected by LTO for FY 2020/21 is estimated	Taxes collected by LTO for FY 2020/21 is estimated
	Date	September 30, 2016	March 31, 2021	March 31, 2021
	Comment

Number of key budget and fiscal documents published on the MoPF website for public access	Value	1 (enacted budget)	The public can access the following 7 documents at	The end of project target for number of key fiscal
	Date	April 1, 2014	March 31, 2021	March 31, 2021
	Comment

Composition of expenditure out-turn compared to original approved. Value 24.00 0.36 14.00
Date April 1, 2014 March 31, 2021 March 31, 2021
Comment
Budget preparation process including (i) issuance of ceilings (ii) preparation of medium-term fiscal framework Value No Yes Yes
Date April 1, 2014 March 31, 2021 March 31, 2021
Comment
Improved budget credibility and budget out-turn in key public service sectors (health, education and transport) Value 18.00 14.00 14.00
Date September 28, 2018 March 31, 2021 March 31, 2021
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of large and medium tax-payers completing self-assessment Value 0.00 7637.00 2300.00
Date April 1, 2014 March 31, 2021 March 31, 2021
Comment

Improving information base for linking budgets to plans- number of departments submitting recurrent and capital budget forms electronically	Value	0.00	181.00	40.00
	Date	April 1, 2014	March 31, 2021	March 31, 2021
	Comment

Timeliness of reconciled budget execution reports Value >6 months >/=2 months </=3 months
Date April 1, 2014 March 31, 2021 March 31, 2021
Comment
Number of beneficiaries of training courses Value 0.00 1428.00 300.00
Date April 1, 2014 March 31, 2021 March 31, 2021
Comment
Timeliness of Submission of Audit Report to Parliament Value Over one year. <12 months <10 months
Date April 1, 2014 March 31, 2021 March 31, 2021
Comment

Modernization of tax administration information system	Value	There is no integrated tax information and adminis	Delivery of an integrated tax information system f	Delivery of an integrated tax information system f
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

Information on procurement opportunities and contract awards (above USD 100 000) are publicly available for 5 Union ministries.	Value	0.00	70.00	70.00
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

Establishement of the PFM training academy to enhance sustainability of PFM training	Value	PFM academy is not yet operational	PFM academy is established and carrying out initia	PFM academy is established and carrying out initia
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

IPSAS transition plan	Value	IPSAS standards are not applied in Myanmar account	MOPF and OAG have adopted a transition plan for th	MOPF and OAG have adopted a transition plan for th
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

New Financial Rules and Regulations are enaced and published	Value	Financial rules and regulations outdated and not w	Official English version of the financial rules an	Updated financial rules and regulations published
	Date	April 1, 2014	March 31, 2021	March 31, 2021
	Comment

Capacity building of JPAC to Strengthen Parliamentary oversight	Value	JPAC received initial capacity building notably on	Publication of the draft PFM bill with inputs from	Publication of the draft PFM bill with inputs from
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

Delivery of a core banking system (CBS)	Value	No such modern system existed. MEB treasury proces	The CBS is expected to be acquired and tested in H	The CBS is expected to be acquired and tested in H
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

Treasury Automation (FIRST)	Value	The financial reporting is largely manual, cumbers	The automated treasury system FIRST has been devel	The automated treasury system FIRST has been devel
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

Composition of expenditure out-turn compared to original approved.	Value	24.00	0.36	14.00
	Date	April 1, 2014	March 31, 2021	March 31, 2021
	Comment

Improved budget credibility and budget out-turn in key public service sectors (health, education and transport)	Value	18.00	14.00	14.00
	Date	September 28, 2018	March 31, 2021	March 31, 2021
	Comment

Timeliness of reconciled budget execution reports	Value	>6 months	>/=2 months	</=3 months
	Date	April 1, 2014	March 31, 2021	March 31, 2021
	Comment

Timeliness of Submission of Audit Report to Parliament	Value	Over one year.	<12 months	<10 months
	Date	April 1, 2014	March 31, 2021	March 31, 2021
	Comment

Budget preparation process including (i) issuance of ceilings (ii) preparation of medium-term fiscal framework	Value	No	Yes	Yes
	Date	April 1, 2014	March 31, 2021	March 31, 2021
	Comment