Organization of Eastern Caribbean States : Policy Note on Project Fiduciary Management

The Organization of Eastern Caribbean States (OECS) face special development challenges, including limited institutional capacity, high per capita costs of basic social and infrastructure services, and vulnerability to natural disasters and other e...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTABILITY ACCOUNTING ACCOUNTING SYSTEM ACCOUNTING SYSTEMS ACTION PLAN ADMINISTRATIVE BURDEN ADMINISTRATIVE COSTS ANNUAL BUDGET ANNUAL PERFORMANCE AUDITING AUDITOR AUDITORS AUDITS AUTOMATION BACKBONE BANK ACCOUNTS BIDDING BORROWING BUDGET ACCOUNTS BUDGET DIRECTOR BUDGET ESTIMATES BUYER CAPABILITIES CAPACITY BUILDING CAPACITY CONSTRAINTS CAPACITY-BUILDING CAPITAL BUDGET CAPITAL BUDGETS CAPITAL EXPENDITURES CAPITAL INVESTMENT CAPITAL PROJECTS CASH MANAGEMENT CIVIL SERVANTS CIVIL SERVICE CIVIL SOCIETY CIVIL SOCIETY ORGANIZATIONS COMMODITIES COMPETITIVENESS CONSOLIDATION CONSTRAINED ENVIRONMENT CONTRACTUAL OBLIGATIONS CONTRIBUTIONS COORDINATION MECHANISMS COST ESTIMATES COST OF CAPITAL COST-EFFECTIVENESS COUNTERPART FUNDING COUNTERPART FUNDS COUNTRY PROCUREMENT COUNTRY PROCUREMENT ASSESSMENT CURRENT PLAN CURRICULA CURRICULUM DEBT DEPOSIT DEVELOPMENT BANK DISBURSEMENT OF FUNDS DISTANCE LEARNING DISTANCE LEARNING NETWORK DISTANCE LEARNING NETWORKS DOCUMENT REQUIREMENTS DONOR AGENCIES DONOR ASSISTANCE DONOR COORDINATION DONOR FUNDING DONOR FUNDS EASTERN CARIBBEAN CENTRAL BANK ECONOMIC DEVELOPMENT ECONOMIC MANAGEMENT ECONOMIC POLICY ECONOMIES OF SCALE EXPENDITURE EXPENDITURE CATEGORIES EXPENDITURE CLASSIFICATION EXTERNAL SHOCKS FIDUCIARY FUNCTION FIDUCIARY REQUIREMENTS FIDUCIARY RESPONSIBILITIES FINANCIAL ACCOUNTABILITY FINANCIAL CONSTRAINTS FINANCIAL INFORMATION FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT SYSTEMS FINANCIAL REPORTS FINANCIAL SUPPORT FISCAL CONSTRAINTS FOREIGN CURRENCY FRAUD FUNCTIONALITIES FUND MANAGER GOVERNMENT ACCOUNTING GOVERNMENT ACCOUNTS GOVERNMENT BUDGET GOVERNMENT OFFICIALS GOVERNMENT SPENDING GOVERNMENT STRUCTURES HARMONIZATION HOUSING HUMAN CAPACITY HUMAN RESOURCE HUMAN RESOURCE CAPACITY HUMAN RESOURCES IMPLEMENTING AGENCIES IMPLEMENTING AGENCY INCOME INFORMATION SYSTEMS INFRASTRUCTURE PROJECTS INFRASTRUCTURE SERVICES INITIATIVE INSTALLATION INSTITUTION INSTITUTIONAL CAPACITY INTERNAL AUDIT INTERNATIONAL STANDARDS INTERNATIONAL TRADE INVESTMENT ACTIVITIES INVESTMENT DECISIONS INVESTMENT PROGRAM INVESTMENT PROGRAMS JUSTICE LABOR MARKET LACK OF INFORMATION LATE PAYMENTS LAWS LEGAL FRAMEWORKS LEGISLATION LENDERS MAINTENANCE COSTS MARKET CONDITIONS MARKET PRICES MEDICAL SUPPLIES MEMBER COUNTRIES MINISTER MINISTRY OF FINANCE NATIONAL DEVELOPMENT NATURAL DISASTERS NETWORK INFRASTRUCTURE ORGANIZATIONAL STRUCTURES OVERSEAS TRAINING PEER REVIEW PHYSICAL INFRASTRUCTURE POLICY DECISIONS PORTFOLIO PERFORMANCE PRIVATE SECTOR PRIVATE SECTORS PROCUREMENT FUNCTION PROCUREMENT POLICY PROCUREMENT PROCESSES PRODUCTIVITY PROGRAM MANAGEMENT PROGRAMS PROJECT MANAGEMENT PROTOTYPE PUBLIC ACCOUNTS PUBLIC EDUCATION PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE SYSTEMS PUBLIC FINANCE PUBLIC FINANCIAL MANAGEMENT PUBLIC FUNDS PUBLIC HEALTH PUBLIC SECTOR PUBLIC SECTOR MANAGEMENT PUBLIC SECTOR PROCUREMENT PUBLIC SECTOR REFORM PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC WORKS PURCHASES QUALITY ASSURANCE REGIONAL TECHNICAL ASSISTANCE REMEDY RESOURCE CONSTRAINTS RESPONSIBILITIES RESULT RESULTS RISK MANAGEMENT SALARY SAVINGS SECTOR MINISTRIES SENIOR SERVICE PROVIDERS SOLICITOR GENERAL SUPERVISION SUPREME AUDIT INSTITUTIONS TECHNICAL ASSISTANCE TECHNICAL ASSISTANCE PROJECT TECHNICAL DEPARTMENTS TECHNICAL SUPPORT TELECOMMUNICATIONS TIGHT FISCAL SITUATION TRAINING PROGRAMS TRANSACTION TRANSACTION COSTS TRANSPARENCY TRANSPORT TRANSPORTATION INFRASTRUCTURE TRUST FUNDS USERS USES VALUABLE WORLD MARKETS WORTH
Online Access:	http://documents.worldbank.org/curated/en/2007/11/8984710/organization-eastern-caribbean-states-oecs-policy-note-project-fiduciary-management http://hdl.handle.net/10986/19541

Description
Summary:	The Organization of Eastern Caribbean States (OECS) face special development challenges, including limited institutional capacity, high per capita costs of basic social and infrastructure services, and vulnerability to natural disasters and other external shocks. This note identifies specific issues related to financial management and procurement. This note focused on the implications of differing donor practices for financing capital projects in a generally weak institutional and implementation environment for capital projects. The quality of implementation is also affected by a lack of adequate project management skills. The objective of this Policy Note is to increase the efficiency of capital investment project implementation in the OECS countries by (i) contributing to a more efficient use of limited institutional and human resource capacity, (ii) lowering transaction costs, and (iii) optimizing the use of public funds, while (iv) maintaining a robust control framework. The OECS economies are highly dependent on donor assistance for funding investment projects. This note identifies opportunities for sequential mainstreaming of fiduciary functions (financial management and procurement) and for a gradual approach to using mechanisms. The OECS countries' current efforts to rationalize institutional arrangements for capital projects by consolidating implementing entities or further mainstreaming implementation within existing structures in line ministries are consistent with the recommendations of the Country Program Quality Enhancement Review conducted by the World Bank in 2004.

Organization of Eastern Caribbean States : Policy Note on Project Fiduciary Management

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