Project to Strengthen budget execution and financial reporting systems

The objective of the Project to Strengthen budget execution and financial reporting systems for Marshall Islands is to improve the completeness, reliability and timeliness of Government’s annualfinancial statements, and the availability of reliable socioeconomic statistics. The project has 5 components. 1. Strengthening the public financial management environment component will improve the legal and regulatory framework of the Public Financial Management (PFM) and procurement system. 2. Financial management information system component will implement a new Financial Management Information System (FMIS) which will support effective management of public resources and improve financial reporting for management and accountability. 3. Change management and human resource development component will support the successful implementation of the FMIS with active stakeholder engagement and development of individual competencies and institutional capacity needed to sustain FMIS operations and related PFM functions. 4. Household Income and Expenditure Survey (HIES) Implementation component will strengthen the capacity of the national statistics organization (EPPSO) to conduct and publicly release the results of an HIES that meets international quality standards. 5. Project management component will support overall project management and coordination.