The objective of the Project is to contribute to the Recipient’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure management.
LATEST ANNOUNCEMENTS

National consultant to strengthen the cross-border remittance system by improving correspondent banking relationships among Mongolian banks /Extended/

Reference: C5/CS/021

Client: Bank of Mongolia

Category: Consultancy Service

Advertised: 3/10/2023

Financial management specialist at the PIU

Reference: E/CS/024

Client: Project Implementing Unit

Category: Consultancy Service

Advertised: 1/17/2023

National consulting service firm or NGO to develop online learning modules for systematic and continuous training of MLSP’s human resources in the social insurance sector

Reference: D2/CS/042

Client: Ministry of Labor and Social Protection

Category: Consultancy Service

Advertised: 12/20/2022

National consultant to develop additional feature to the Citizens’ Budget website

Reference: 23/CS/022

Client: Ministry of Finance

Category: Consultancy Service

Advertised: 12/22/2022

NEWS

PERFORMANCE BASED FINANCING: INSPIRING NEW APPROACHES TO PUBLIC FINANCIAL MANAGEMENT IN HEALTH AND EDUCATION

3/23/2023

Performance based financing (PBF) links funds or payments to service providers to results achieved and gives them considerable autonomy in the use of these funds. The strategic approach is appealing to many individuals and organizations as it motivates them to perform better and channels resources directly to the frontlines. This in turn fosters greater accountability. Using this approach has been popular in different sectors with some promising results emerging. 

AN INTEGRATED SYSTEM FOR RESULTS-BASED MEDIUM-TERM BUDGET PLANNING: IN ACHIEVING THE GOALS OF IMPROVING BUDGET PLANNING, BUDGET EFFICIENCY AND PROGRAM OUTCOME.

3/7/2023

    Under the scope of improving public financial management, Mongolia is aiming to introduce result-oriented medium-term budgeting, transitioning from the traditional input-based budgeting. This goal is aligned with development policy of Mongolia to shift from medium-term fiscal framework (MTFF) to medium-term expenditure framework (MTEF).

The MOF is entering the new phase of PFM Reform Action Plan

2/28/2023

Within the framework of the European Union financed, World Bank managed “Strengthening Governance in Mongolia” project, the Ministry of Finance, in compliance with the “Sustainable Development Vision 2030” and the “Action Program of the Government of Mongolia for 2016-2020”, has approved and implemented the Public Financial Management (PFM) Reform Strategy and the Action Plan for 2018-2022. The overarching objective of the strategy was to improve governance and achieve effective resource allocation and efficient public service delivery. The implementation status of the PFM Action Plan is indicated as “Certain results have been achieved” at the rate of 85 percent.

LAUNCHED BETA VERSION OF THE REDEVELOPED GLASS ACCOUNT PORTAL

1/20/2023

The Ministry of Finance Mongolia has developed and successfully launched the new version of the Glass Account Portal in 2023 within the framework of the Strengthening Governance in Mongolia Project jointly implemented by the EU and the World bank.