Development Projects : Serbia Public Sector Accounting Reform Technical Assistance

Development Objective

The project development objective is to increase transparency and reliability of the financial reporting in public sector for improved decision making, resource allocation and management in Serbia. The project will support modernization and strengthening of public sector accounting and financial reporting. It will also help align Serbia public accounting with the EU framework , which is one of the conditions for EU accession.

Key Details

Project Details

Project ID
P162032
Status
Closed
Team Leader
Iwona Warzecha , Aleksandar Crnomarkovic
Borrower 2
Republic of Serbia

Country
Serbia
Disclosure Date
December 22, 2016
Approval Date
(as of board presentation)
April 5, 2018
Effective Date
April 19, 2018

Total Project Cost 1
US$ 1.35 million
Implementing Agency
Ministry of Finance,Ministry of Finance - Treasury,Ministry of Finance - Treasury
Region
Europe and Central Asia
Fiscal Year 3
2018

Commitment Amount
US$ 1.35 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
August 31, 2020

Last Stage Reached
BANK APPROVED
Last Update Date
July 15, 2022

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 - Human Development and Gender

FY17 - Gender15%
FY17 - Labor Market Policy and Programs15%
- FY17 - Skills Development15%

FY17 - Private Sector Development

FY17 - ICT25%
- FY17 - ICT Solutions25%

FY17 - Public Sector Management

FY17 - Public Administration89%
- FY17 - Transparency, Accountability and Good Governance89%
FY17 - Public Finance Management100%
- FY17 - Public Expenditure Management100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
Swiss State Secretariat for Economic Affairs	1.35

Total Project Financing (US$ Millions)

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

Lending Instrument
Grant Amount	1.35
Total Project Cost**	1.35

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

No data available.

Detailed Financial Activity as of July 31, 2025

No data available.

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Unsatisfactory	2019-01-29
Progress towards achievement of PDO	Unsatisfactory	2019-01-29
Overall	High	2019-01-29

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Public Sector Accounting and Financial Reporting is aligned with IPSAS within budget beneficiaries covered by the Project Value No No
Date April 18, 2018 June 30, 2020
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Development of public sector accounting and financial reporting in line with IPSAS Value 10.00 60.00
Date April 18, 2018 June 30, 2020
Comment
Development of capacities and of professional skills for public accounting practitioners Value 15.00 625.00
Date April 18, 2018 June 30, 2020
Comment
Strengthening of IT systems to support proper implementation of accrual based accounting standards Value No Yes
Date April 18, 2018 March 31, 2019
Comment
New laws and regulations are enacted Value 0.00 100.00
Date April 18, 2018 December 31, 2019
Comment
National guide/handbook published and distributed to budget institutions Value 0.00 100.00
Date April 18, 2018 December 31, 2019
Comment
training available for accountants in local institutions Value 0.00 65.00
Date April 18, 2018 June 30, 2020
Comment
Train the trainer stage completed Value 0.00 145.00
Date April 18, 2018 December 31, 2019
Comment
Trainers selected Value 0.00 145.00
Date April 18, 2018 December 31, 2018
Comment
Certification program for public sector accountants prepared Value 15.00 65.00
Date April 18, 2018 June 30, 2020
Comment
Training Curricula and training materials for public sector accountants prepared Value 0.00 625.00
Date April 18, 2018 June 30, 2019
Comment
Financial Statements are produced according to new standards Value 0.00 60.00
Date April 18, 2018 June 30, 2020
Comment

Public Sector Accounting and Financial Reporting is aligned with IPSAS within budget beneficiaries covered by the Project	Value	No	No
	Date	April 18, 2018	June 30, 2020
	Comment

Development of public sector accounting and financial reporting in line with IPSAS	Value	10.00	60.00
	Date	April 18, 2018	June 30, 2020
	Comment

Development of capacities and of professional skills for public accounting practitioners	Value	15.00	625.00
	Date	April 18, 2018	June 30, 2020
	Comment

New laws and regulations are enacted	Value	0.00	100.00
	Date	April 18, 2018	December 31, 2019
	Comment

Train the trainer stage completed	Value	0.00	145.00
	Date	April 18, 2018	December 31, 2019
	Comment

Trainers selected	Value	0.00	145.00
	Date	April 18, 2018	December 31, 2018
	Comment

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

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

Detailed Financial Activity as of July 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS