10/27/2021
Within the framework of the “Strengthening Fiscal and Financial Stability Project” jointly implemented by the World Bank and the Ministry of Finance, the web-based Public Investment Management system www.publicinvestment.gov.mn or PIMS and mobile application were further developed and introduced in 2018 to improve efficiency, transparency, and prompt financing, accountability of public investment participants.
The system continues to make a valuable contribution to implementing fiscal reform at all levels and to the transfer of government activities and services into a digital form. For instance, it’s facilitating the conditions to fully deploy the public investment system and ensure budget transparency, accuracy, and accountability.
The PIM system provides an opportunity to plan the public investment activities per the detailed methodology and lays the foundation for collecting, analyzing, and monitoring the implementation information in electronic form throughout the stages, starting from the conclusion of the contract until the implementation of public investment projects.
The user login accesses to the electronic system can be obtained from the Public Investment Department of the Ministry of Finance and are given to the general governors, the officials in charge of budget investment of aimags, the capital city, and agencies. In addition, the transparency is enhanced by the fact that any user can view the progress of the financing without having to log in.
An annual training session is conducted regularly throughout the country on the public investment planning, methodology, and PIM system application for all the officials from aimags, the capital city, and agencies in charge of budget investment planning, implementation, and monitoring. It is essential for improving the system usage and regularity.
Moreover, the Ministry of Finance plans to upgrade the system developed under the SFFS project by interfacing with other systems to improve participation in the financing request stage, digitalizing the financing documents, and creating other systems, such as digital signatures and electronic archiving systems.
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WORLD BANK WORKING GROUP MET WITH PIU AND IMPLEMENTING ORGANIZATIONS REGARDING THE COMPLETION REPORT OF THE STRENGTHENING GOVERNANCE IN MONGOLIA PROJECT
4/3/2023
Concerning the Strengthening Governance in Mongolia project, which was completed on February 28, 2023, the World Bank working group to develop the project completion report had an official meeting with Project Implementation Unit (PIU) and implementing organizations on March 30, 2023. The purpose of the working group meeting is to review the implementation of the project, the results achieved, and the fulfillment of the project indicators. |
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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. |
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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). |
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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. |
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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. |
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New systems and services are added in the Intermediate service platform for fiscal and financial systems
1/11/2023
The Ministry of Finance Mongolia has developed and successfully launched the Intermediate Service Platform (ISP) in 2022 within the framework of the Strengthening Governance in Mongolia Project. The main purpose of the system is to provide a possibility of information /web services/ exchange between the independent systems of the Ministry of Finance and other organizations in a easy and flexible way. In addition, it is solving the issues of overlapping connections and development between many information systems and organizations, transferring them to a unified standard, making it has no complexity, and more secure. |
