Rwanda - Public Finance Management Reform Project

Overview & Synopsis

Ratings for the Public Finance Management (PFM) Reform Project for Rwanda were as follows: outcome and Bank performance was satisfactory, and monitoring and evaluation (M and E) quality was substantial. Some lessons learned included: given the complexity of migrating to International Public Sector Accounting Standards (IPSAS) accrual, a phased approach with gradual adoption and enhanced training is necessary for a smooth transition. Having comprehensive asset valuation frameworks and strategies as well as robust information technology (IT) systems to ensure accurate, timely, and sustainable financial reporting is critical for the transition to ISPAS accrual. The uptake of PFM reforms by sector ministries requires extensive sensitization and awareness campaigns. The adoption and optimization of the PFM IT systems require sustained capacity-building efforts to ensure its effective utilization by government entities. A well-structured institutional arrangement is instrumental for a coordinated approach in achieving results. Sustainable capacity building in the public sector requires not only the institutionalization of training programs but also the financial sustainability of these interventions.