9/8/2021
The Project implementing unit translated The Capacity Development Results Framework to strengthen the capacity of target beneficiaries of the Strengthening Fiscal and Financial Stability project and presented it to the implementing organizations, Ministry of Finance, Ministry of Labour and Social Protection of Mongolia, Bank of Mongolia, Financial Regulatory Commission, their relevant departments. The framework, which the World Bank developed in 2009, is a thorough recommendation based on result-based strategy and development maps to enhance local ownership to advance particular developmental goals.
Each year, aid donors spend more than $20 billion on products and activities designed to enhance the capacity of developing countries to make and carry out development plans. However, limited capacity to set development goals, prioritize among them, and revise plans and programs in response to results achieved is a significant constraint on the development process in many countries.
The Paris Declaration on Aid Effectiveness, signed by more than 100 multilateral and bilateral donors and developing countries, states that the capacity to plan, manage, implement, and account for results is ... critical for achieving development objectives. The declaration urges developing countries to make capacity development a key goal of their national development strategies. Donors understand that capacity cannot be imported as a turnkey operation. Instead, it must be developed from within, with donors and their experts acting as catalysts, facilitators, and brokers of knowledge and technique.
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. |
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. |
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. |