Skip to Main Navigation

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...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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

  • P144952

  • Closed

  • Fabian Seiderer , Bonnie Sirois, Pike Aye

  • The Republic of the Union of Myanmar

  • Myanmar

  • February 11, 2014

  • (as of board presentation)

    April 2, 2014

  • October 9, 2014

  • US$ 55.00 million

  • Office of the Auditor General of the Union,Myanma Economic Bank (MEB),Joint Public Accounts Committee

  • East Asia And Pacific

  • 2014

  • US$ 55.00 million

  • C

  • November 30, 2023

  • March 31, 2021

  • Yes

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
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

Download:
No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of January 31, 2025

Download:
No data available.
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

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 11-10-2022
OutcomesModerately Satisfactory
Risk to Development Outcome
Bank PerformanceModerately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Satisfactory N/a
Risk To Development OutcomeN/a
Bank PerformanceModerately SatisfactoryN/a
Borrower PerformanceN/a
Government PerformanceNot RatedN/a
Implementing AgencyN/a
Icr QualityModestN/a
M&e QualityModestN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Increase in Tax collection from Large TaxpayersValueBaseline: Taxes collected by LTO in FY 2015-2016 wTaxes collected by LTO for FY 2020/21 is estimatedTaxes collected by LTO for FY 2020/21 is estimated
    DateSeptember 30, 2016March 31, 2021March 31, 2021
    Comment
  • Number of key budget and fiscal documents published on the MoPF website for public accessValue1 (enacted budget)The public can access the following 7 documents atThe end of project target for number of key fiscal
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Composition of expenditure out-turn compared to original approved.Value24.000.3614.00
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Budget preparation process including (i) issuance of ceilings (ii) preparation of medium-term fiscal frameworkValueNoYesYes
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Improved budget credibility and budget out-turn in key public service sectors (health, education and transport)Value18.0014.0014.00
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Number of large and medium tax-payers completing self-assessmentValue0.007637.002300.00
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Improving information base for linking budgets to plans- number of departments submitting recurrent and capital budget forms electronicallyValue0.00181.0040.00
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Timeliness of reconciled budget execution reportsValue>6 months>/=2 months</=3 months
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Number of beneficiaries of training coursesValue0.001428.00300.00
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Timeliness of Submission of Audit Report to ParliamentValueOver one year.<12 months<10 months
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Modernization of tax administration information systemValueThere is no integrated tax information and adminisDelivery of an integrated tax information system fDelivery of an integrated tax information system f
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment
  • Information on procurement opportunities and contract awards (above USD 100 000) are publicly available for 5 Union ministries.Value0.0070.0070.00
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment
  • Establishement of the PFM training academy to enhance sustainability of PFM trainingValuePFM academy is not yet operationalPFM academy is established and carrying out initiaPFM academy is established and carrying out initia
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment
  • IPSAS transition planValueIPSAS standards are not applied in Myanmar accountMOPF and OAG have adopted a transition plan for thMOPF and OAG have adopted a transition plan for th
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment
  • New Financial Rules and Regulations are enaced and publishedValueFinancial rules and regulations outdated and not wOfficial English version of the financial rules anUpdated financial rules and regulations published
    DateApril 1, 2014March 31, 2021March 31, 2021
    Comment
  • Capacity building of JPAC to Strengthen Parliamentary oversightValueJPAC received initial capacity building notably onPublication of the draft PFM bill with inputs fromPublication of the draft PFM bill with inputs from
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment
  • Delivery of a core banking system (CBS)ValueNo such modern system existed. MEB treasury procesThe CBS is expected to be acquired and tested in HThe CBS is expected to be acquired and tested in H
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment
  • Treasury Automation (FIRST)ValueThe financial reporting is largely manual, cumbersThe automated treasury system FIRST has been develThe automated treasury system FIRST has been devel
    DateSeptember 28, 2018March 31, 2021March 31, 2021
    Comment