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THE DEVELOPMENT OF THE BUDGET FINANCIAL INTERMEDIATION WEB SERVICE PLATFORM SYSTEM IS UNDERWAY

2021.11.24

The Ministry of Finance of Mongolia, with the technical assistance of the Strengthening Fiscal, and Financial Stability Project, has developed an Budget Financial Intermediation Web Service Platform system and started to improve the coherence of information to connect the DMFAS system to other systems of the Ministry of Finance.

For example, the need to connect the DMFAS system to the 6 systems of the Ministry of Finance, such as FISCUS, ODAMIS, TAS (Glass account system), E-Balance, E-Report, and Fiscal, and types and categories of data information were identified and approved.

Currently, connection and development process of the following systems are under implementation:

FISCUS - Treasury Accounting System

  • The development of automatic information downloading of the Government’s external loans repayment principal and interest payment from the DMFAS system has been completed.
  • The development of automatic withdrawal of Government’s external loans principal and interest paid payments from the FISCUS system to the DMFAS system has been completed.
  • The DMFAS system is being developed to automatically download information on principal and interest liabilities of the government's external loans transfer to domestic loans.
  • Developments are underway to automatically transfer principal and interest-bearing liabilities from the FISCUS system to the DMFAS system for domestic government on-lent loans.

ODAMIS – Official Development Assistance Management Information System

  • The development of automatically sending external loan application information to the DMFAS system when the financing request is confirmed has been completed.
  • The ODAMIS system is being developed to automatically send new registered external loan information to the DMFAS system.

TAS – Glass account system

  • Development is underway to automatically display government debt service information to the TAS system in real time.

Within the framework of automating the activities of the Debt Management Division, the following activities are being implemented:

  • Developed and launched console API application to automatically register the official exchange rate data of the Bank of Mongolia in the DMFAS system. Automatic entry of exchange rate information eliminated the risk of data lag and accuracy.
  • The development of automatic recording of credit rating data from the FRED ECONOMIC DATA database website to the DMFAS system has been completed. Automatic entry of credit rating information has the advantage of eliminating the risk of data delays and inaccuracies.
  • For DMD's operations, the Ministry of Finance's Office 365 platform directly linked SharePoint, Flow, and Planner software to External Domestic Loans, Sub-Loans, and External Domestic Bond Repayment information within the DMFAS system. 

As a result, the following development work was done on Flow program of Office 365:

  • Automatically notify DMD division staff of repayment email notifications 30 days, 7 days and 3 days in advance.
  • Automatically post on the internal-division calendar of the DMD.
  • Automatically create work assignments on the Planner program for responsible officer for loan repayment.

The completion of development for notification information has the advantage of reducing the risk of loan arrear payments.

МЭДЭЭ, МЭДЭЭЛЭЛ
WORLD BANK WORKING GROUP MET WITH PIU AND IMPLEMENTING ORGANIZATIONS REGARDING THE COMPLETION REPORT OF THE STRENGTHENING GOVERNANCE IN MONGOLIA PROJECT

2023.04.03

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

2023.03.23

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.

2023.03.07

    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

2023.02.28

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

2023.01.20

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

2023.01.11

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.

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