UN Development Programme, Slovakia support Moldova in optimizing public money management

Chisinau, 14 December /MOLDPRES/ - The United Nations Development Programme (UNDP) Moldova , with the financial support of the Slovak-UNDP Trust Fund, has recently launched a new project on strengthening the capacities and systems for the efficient management of public money in Moldova. This project is part of the programme on public financing for development – a regional initiative which provides support to the partner countries in the reformation and consolidation of the public money management.    

The project, with a budget of 450,000 dollars, will be implemented during 2.5 years and will continue the previous efforts of assistance by the Finance Ministry from Slovakia, provided to Moldova through the Slovak-UNDP Trust Fund, for strengthening the budgeting on programmes and analysis of expenses at the sectoral level. The project will consolidate the capacities of the public money system to improve the budgetary efficiency and rationalize the public spending. The initiative will back the Finance Ministry in ensuring the bringing the budgetary flows in line with the nationalized targets of the Sustainable Development Goals (SDG).

„This new stage of the of the project represents a continuity of the process which we started almost three years ago, with the exercise of public expenses’ analysis. We are happy that UNDP further supports this project. The improvement of the analytical capacities, along with the optimization of the process of analysis of public policies from the viewpoint of sustainable financing, are extremely important aspects,’’ a state secretary at the Finance Ministry, Tatiana Ivanicichina, said at a workshop on assessing the financing for development.     

„This project becomes more relevant when the government faces challenges of an increased demand in financial resources, in the context of the COVID-19 pandemic. UNDP will back the government in edifying an integrated approach of financing the plan of recovery, in order to make sure that the improvement will put emphasis on sustainability, inclusion and resilience,’’ the UNDP deputy resident representative, Andrea Cuzyova, said.     

The methodology of assessing the financing for development, elaborated by UNDP, provides to governments a well-structured process of analysis of the financial flows and needs and of creating a consensus for designing holistic strategies of financing, which are to stimulate the recovery in the context of the COVID-19 pandemic and carrying out of the Sustainable Development Goals. The evaluation of finances for development provides information on the financial situation, for strengthening the governance mechanism, which adjusts the medium-term budgetary framework and the annual budgets to the national and sectoral development strategies.  

photo: PNUD Moldova