What We Do

The Unit was established within the Ministry of Finance to provide a centralized financial management for World Bank and other donors funded projects. Specifically, it is to:

•    Carry out disbursement of donor funds in accordance with World Bank procedures;
•    Draw down of funds from the World Bank;
•    Financial reporting on receipts and disbursement of funds;
•    Arrange for annual audits

 


Capacity Building and Transfer of Skills

We would like to increase the number of local staff for training to at least five (5) in the short-term. In addition to the benefit of gaining the knowledge required, the additional 3 locals will be used to render assistance to the smaller projects whilst the experienced accountants will concentrate on the major projects such as infrastructure projects.

Training for Projects in Other Ministries
The responsibility of financial management for 39 projects has been concentrated in the hands of PFMU now. This has been cost effective to Liberia as a whole. However, to build upon what has been achieved so far, PFMU has to train a larger number of local accountants in donor funds management and release them, after one year in PFMU, to other sector ministries to serve the projects in the sector ministries.

PFMU will then provide back up support to the trained local accountants in other ministries. By this method, the impact of PFMU will be passed to other ministries as well as avoiding overload on PFMU.

For each incoming project, requests must be made for inclusion of funding for training of accountants in PFMU. This can be ensured at the negotiation stage or/and before grant agreements are signed. This will reduce the burden of financing on the Infrastructure projects.