BELARUS PUBLIC FINANCIAL MANAGEMENT MODERNIZATION PROJECT

Abstract*

The objective of the Public Financial Management Modernization Project for Belarus is to improve policy alignment of the budget, consolidate cash balances, improve budget transparency and lay foundations for implementation of an Integrated Financial Management Information System (FMIS). There are three components to the project, the first component being budget management regulations and procedures. The Government of Belarus’ PFM Reform Strategy plans... Show More

Development Objective

To improve policy alignment of the budget, consolidate cash balances, improve budget transparency and lay foundations for implementation of an Integrated Financial Management Information System (FMIS)

Key Details

Project Details

Project ID
P146997
Status
Closed
Team Leader
Dmitri Gourfinkel , Elena Nikulina, Iryna Shcherbyna-Taferner
Borrower 2
Ministry of Finance

Country
Belarus
Disclosure Date
June 2, 2015
Approval Date
(as of board presentation)
March 28, 2016
Effective Date
July 27, 2016

Total Project Cost 1
US$ 10.00 million
Implementing Agency
MoF's IT Center
Region
Europe and Central Asia
Fiscal Year 3
2016

Commitment Amount
US$ 10.00 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
July 30, 2021

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
October 3, 2023

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 - Public Sector Management

FY17 - Public Administration50%
- FY17 - Transparency, Accountability and Good Governance50%
FY17 - Public Finance Management50%
- FY17 - Public Expenditure Management50%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	10.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	10.00
IDA Commitment	N/A
IBRD + IDA Commitment	10.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	10.00

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

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jun 7, 2017	IBRD-86060	Loan Disb	58,200.00
Jul 6, 2017	IBRD-86060	Loan Disb	84,998.30
Mar 15, 2017	IBRD-86060	Int Charges	19,646.32
Mar 15, 2017	IBRD-86060	Int Charges	252.76
Sep 15, 2017	IBRD-86060	Int Charges	12,427.41
Aug 21, 2017	IBRD-86060	Loan Disb	207,695.40
Jul 29, 2020	IBRD-86060	Loan Disb	484,130.00
Sep 15, 2020	IBRD-86060	Int Charges	23.65
Sep 15, 2020	IBRD-86060	Int Charges	220.74
Sep 15, 2020	IBRD-86060	Int Charges	7,151.37
Sep 15, 2020	IBRD-86060	Int Charges	25,468.33
Mar 15, 2021	IBRD-86060	Int Charges	283.57
Mar 15, 2021	IBRD-86060	Int Charges	1,123.22
Mar 15, 2021	IBRD-86060	Int Charges	5,406.47
Mar 15, 2021	IBRD-86060	Int Charges	22,060.44
Feb 24, 2020	IBRD-86060	Loan Disb	60,000.00
Feb 24, 2020	IBRD-86060	Loan Disb	113,184.75
May 13, 2020	IBRD-86060	Loan Disb	40,000.00
Jun 30, 2020	IBRD-86060	Loan Disb	86,844.00
Aug 28, 2020	IBRD-86060	Loan Disb	130,000.00
Sep 23, 2020	IBRD-86060	Loan Disb	330,000.00
Jul 28, 2020	IBRD-86060	Loan Disb	115,792.00
Aug 10, 2020	IBRD-86060	Loan Disb	285,000.00
Oct 11, 2019	IBRD-86060	Loan Disb	174,244.66
Aug 22, 2019	IBRD-86060	Loan Disb	64,677.00
Aug 22, 2019	IBRD-86060	Loan Disb	116,163.10
Aug 22, 2019	IBRD-86060	Loan Disb	57,896.00
Sep 15, 2019	IBRD-86060	Int Charges	34.00
Sep 15, 2019	IBRD-86060	Int Charges	355.94
Jul 18, 2019	IBRD-86060	Loan Disb	30,000.00
Sep 15, 2019	IBRD-86060	Int Charges	44,019.77
Sep 15, 2019	IBRD-86060	Int Charges	386.45
Sep 15, 2019	IBRD-86060	Int Charges	8,769.00
Sep 19, 2019	IBRD-86060	Loan Disb	173,688.00
Mar 15, 2020	IBRD-86060	Int Charges	7,768.24
Mar 15, 2020	IBRD-86060	Int Charges	48,058.31
Mar 15, 2020	IBRD-86060	Int Charges	64.51
Mar 15, 2020	IBRD-86060	Int Charges	767.57
Dec 17, 2019	IBRD-86060	Loan Disb	97,015.50
Dec 17, 2019	IBRD-86060	Loan Disb	30,000.00
Mar 15, 2019	IBRD-86060	Int Charges	80.34
Apr 19, 2019	IBRD-86060	Loan Disb	48,507.75
Apr 19, 2019	IBRD-86060	Loan Disb	140,000.00
Mar 11, 2019	IBRD-86060	Loan Disb	120,000.00
Apr 30, 2019	IBRD-86060	Loan Disb	116,163.10
Jun 4, 2019	IBRD-86060	Loan Disb	95,000.00
May 28, 2019	IBRD-86060	Loan Disb	219,450.00
Aug 30, 2019	IBRD-86060	Loan Disb	120,000.00
Oct 11, 2019	IBRD-86060	Loan Disb	80,658.00
Sep 15, 2018	IBRD-86060	Int Charges	10,918.58
Sep 15, 2018	IBRD-86060	Int Charges	17,952.15
Jun 8, 2018	IBRD-86060	Loan Disb	119,200.00
Jul 26, 2018	IBRD-86060	Loan Disb	230,000.00
Sep 24, 2018	IBRD-86060	Loan Disb	25,000.00
Nov 13, 2018	IBRD-86060	Loan Disb	87,122.32
Dec 4, 2018	IBRD-86060	Loan Disb	87,122.32
Mar 28, 2016	IBRD-86060	Loan Commitment	10,000,000.00
Nov 30, 2021	IBRD-86060	Loan Cancel	1,045,266.50
Mar 15, 2022	IBRD-86060	Int Charges	257.19
Mar 15, 2022	IBRD-86060	Int Charges	539.36
Mar 15, 2022	IBRD-86060	Int Charges	25,730.16
Mar 15, 2022	IBRD-86060	Loan Repay	1,478,227.20
Mar 15, 2022	IBRD-86060	Int Charges	136.85
Mar 15, 2022	IBRD-86060	Loan Repay	26,526.71
Sep 15, 2021	IBRD-86060	Int Charges	17.03
Sep 15, 2021	IBRD-86060	Int Charges	2,598.56
Sep 15, 2021	IBRD-86060	Int Charges	28,412.47
Sep 15, 2021	IBRD-86060	Loan Repay	1,401,652.10
Sep 15, 2021	IBRD-86060	Loan Repay	31,028.06
Sep 15, 2021	IBRD-86060	Int Charges	7.88
Nov 26, 2021	IBRD-86060	Loan Disb	-9,628.73
Jul 23, 2021	IBRD-86060	Loan Disb	370,000.00
Apr 19, 2021	IBRD-86060	Loan Disb	482,000.00
Jun 2, 2021	IBRD-86060	Loan Disb	495,960.00
Jun 28, 2021	IBRD-86060	Loan Disb	495,550.00
Apr 28, 2021	IBRD-86060	Loan Disb	400,000.00
Apr 28, 2021	IBRD-86060	Loan Disb	204,115.00
Dec 23, 2020	IBRD-86060	Loan Disb	325,000.00
Jan 28, 2021	IBRD-86060	Loan Disb	25,000.00
Mar 24, 2021	IBRD-86060	Loan Disb	140,000.00
Mar 24, 2021	IBRD-86060	Loan Disb	330,000.00
Mar 24, 2021	IBRD-86060	Loan Disb	204,115.00
Dec 4, 2018	IBRD-86060	Loan Disb	100,000.00
Jan 23, 2019	IBRD-86060	Loan Disb	57,896.00
Jan 23, 2019	IBRD-86060	Loan Disb	30,000.00
Oct 25, 2018	IBRD-86060	Loan Disb	90,000.00
Mar 15, 2019	IBRD-86060	Int Charges	818.97
Mar 15, 2019	IBRD-86060	Int Charges	9,953.14
Mar 15, 2019	IBRD-86060	Int Charges	29,811.84
Nov 14, 2017	IBRD-86060	Loan Disb	38,800.00
Nov 14, 2017	IBRD-86060	Loan Disb	100,000.00
Oct 10, 2017	IBRD-86060	Loan Disb	225,000.00
Jul 18, 2017	IBRD-86060	Loan Disb	20,000.00
Sep 15, 2017	IBRD-86060	Int Charges	958.63
Oct 20, 2017	IBRD-86060	Loan Disb	45,000.00
Dec 26, 2017	IBRD-86060	Loan Disb	30,000.00
Mar 15, 2018	IBRD-86060	Int Charges	11,391.88
Mar 15, 2018	IBRD-86060	Int Charges	7,787.86
Mar 15, 2018	IBRD-86060	Int Charges	48.93
Mar 15, 2018	IBRD-86060	Int Charges	322.08
Jan 12, 2018	IBRD-86060	Loan Disb	70,000.00
Aug 24, 2017	IBRD-86060	Loan Disb	35,000.00
Mar 27, 2018	IBRD-86060	Loan Disb	15,000.00
May 15, 2018	IBRD-86060	Loan Disb	276,330.00
Jun 1, 2018	IBRD-86060	Loan Disb	86,844.00
Jul 27, 2016	IBRD-86060	Loan Disb	25,000.00
Jul 27, 2016	IBRD-86060	Fee Charges	25,000.00
Jun 7, 2017	IBRD-86060	Loan Disb	20,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Satisfactory	2021-08-25
Progress towards achievement of PDO	Moderately Satisfactory	2021-08-25
Financial Management	Satisfactory	2021-08-25
Monitoring and Evaluation	Satisfactory	2021-08-25
Overall Implementation Progress (IP)	Moderately Satisfactory	2021-08-25
Procurement	Satisfactory	2021-08-25

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 01-03-2022
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Substantial
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	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Improved alignment of policies and budgets Value 16.00 69.00 0.00
Date January 1, 2015 July 30, 2021
Comment
Increase the level of consolidation of cash balances (by reducing balances outside of TSA) Value 11.00 5.92 0.00
Date December 31, 2014 July 30, 2021
Comment
Improved budget transparency Value No Citizen's Budget Citizens’ budget is published online quarterly
Date December 31, 2015 July 30, 2021
Comment
Foundations for FMIS Value Future business processes to be supported by FMIS Target is no longer relevant due to the MoF's deci
Date December 31, 2015 July 30, 2021
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Conceptual framework for public sector accounting reform	Value	PSA reform is defined as a priority in PFM Strateg	PSA reform implementation launched, including the
	Date	December 31, 2015	July 30, 2021
	Comment

Integration of budget and financial reporting based on international standards (Text, Custom)	Value	Methodological basis for public sector financial a	The Unified Chart of Accounts and the methodology
	Date	December 31, 2015	July 30, 2021
	Comment

Program budgeting methodology Value Program budgeting methodology does not clearly lin Selected aspects of the program-budgeting methodol
Date December 31, 2015 July 30, 2021
Comment
Modernization of business processes Value Future business processes to be supported by IFMIS Business processes were revised for some of the ke
Date December 31, 2015 July 30, 2021
Comment
Reliability and fault tolerance of the ASFS Value The ASFS at the republican level operates at two g A uniform distribution of the load on the ASFS and
Date May 27, 2019 July 30, 2021
Comment
ASFS centralized storage capacity Value There is no centralized storage of the ASFS databa Centralized storage of databases of MoF territoria
Date May 27, 2019 July 30, 2021
Comment

Improved alignment of policies and budgets	Value	16.00	69.00	0.00
	Date	January 1, 2015	July 30, 2021
	Comment

Increase the level of consolidation of cash balances (by reducing balances outside of TSA)	Value	11.00	5.92	0.00
	Date	December 31, 2014	July 30, 2021
	Comment

Improved budget transparency	Value	No Citizen's Budget	Citizens’ budget is published online quarterly
	Date	December 31, 2015	July 30, 2021
	Comment

Foundations for FMIS	Value	Future business processes to be supported by FMIS	Target is no longer relevant due to the MoF's deci
	Date	December 31, 2015	July 30, 2021
	Comment

Program budgeting methodology	Value	Program budgeting methodology does not clearly lin	Selected aspects of the program-budgeting methodol
	Date	December 31, 2015	July 30, 2021
	Comment

Modernization of business processes	Value	Future business processes to be supported by IFMIS	Business processes were revised for some of the ke
	Date	December 31, 2015	July 30, 2021
	Comment

Reliability and fault tolerance of the ASFS	Value	The ASFS at the republican level operates at two g	A uniform distribution of the load on the ASFS and
	Date	May 27, 2019	July 30, 2021
	Comment

ASFS centralized storage capacity	Value	There is no centralized storage of the ASFS databa	Centralized storage of databases of MoF territoria
	Date	May 27, 2019	July 30, 2021
	Comment