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The Public Investment Management (PIM) Reference Guide aims to convey country experiences and good international practices as a basis for decisions on how to address a country-specific PIM reform agenda. The country references are drawn largely from previous diagnostics and technical assistance reports of the World Bank. The application of country diagnostics and assessments has revealed a need to address the following issues when undertaking a country reform in PIM: • Clarification of the definition and scope of public investment and public investment management • Establishment of a sound legal, regulatory, and institutional setting for PIM, making sure it is linked to the budget process • Allocation of roles and responsibilities for key players in PIM across government • Strengthening of guidance on project preappraisal, appraisal, and selection-prioritization procedures and deepening of project appraisal methodologies • Integration of strategic planning, project appraisal-selection, and capital budgeting • Management of multiyear capital budget allocations and commitments • Efforts to address effective implementation, procurement, and monitoring of projects • Strengthening of asset management and ex post evaluation • Integration of PIM and public-private partnership (PPP) in a unified framework • Rationalization and prioritization of the existing PIM project portfolio • Development of a PIM database and information technology in the form of a PIM information system. The PIM Reference Guide does not seek to provide definitive answers or standard guidance for the common PIM issues facing countries. Nor does it seek to provide a detailed template for replication across countries: this would be impossible given the diversity of country situations. Instead, each chapter begins with an overview of the specific reform issue, lists approaches and experiences from different countries, and summarizes the references and good practices to be considered in designing country-specific reform actions.
This paper introduces a new index that captures the institutional environment underpinning public investment management across four different stages: project appraisal, selection, implementation, and evaluation. Covering 71 countries, including 40 low-income countries, the index allows for benchmarking across regions and country groups and for nuanced policy-relevant analysis and identification of specific areas where reform efforts could be prioritized. Potential research venues are outlined.
Public resources, if invested well in public infrastructure and services, can unleash inclusive growth and development. This report provides a simple but comprehensive framework and global experience, to help policy makers adopt good functional principles in the design of institutions to strengthen public investment management.

Benin

International Monetary Fund. Fiscal Affairs Dept.

Published: 2020-01-27

Total Pages: 70


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The Public Investment Management Assessment (PIMA) of Benin has brought to light an institutional framework of high quality but ineffective implementation. In accordance with the PIMA methodology applied in several countries, the mission focused on assessing the institutional strengths for each institution in the analytical framework, as well as its effective implementation. The authorities in 2016 adopted an ambitious investment plan, the government action program (PAG), which is designed to stimulate Benin's economic and social development. Investments in flagship sectors have been identified as means to support this development; the PAG provides recourse primarily to new financing mechanisms, such as public-private partnerships, to ensure the realization of these investments. In connection with the implementation of the PAG, the financial incidences of selected projects should be fully accounted for and reflected in the budget documentation to ensure their sustainability. Enhanced coordination of planning and budget exercises would encourage a better consideration of recurrent expenditure.
Public financial management (PFM) consists of all the government’s institutional arrangements in place to facilitate the implementation of fiscal policies. In response to the growing urgency to fight climate change, “green PFM” aims at adapting existing PFM practices to support climate-sensitive policies. With the cross-cutting nature of climate change and wider environmental concerns, green PFM can be a key enabler of an integrated government strategy to combat climate change. This note outlines a framework for green PFM, emphasizing the need for an approach combining various entry points within, across, and beyond the budget cycle. This includes components such as fiscal transparency and external oversight, and coordination with state-owned enterprises and subnational governments. The note also identifies principles for effective implementation of a green PFM strategy, among which the need for a strong stewardship located within the ministry of finance is paramount.
This departmental paper investigates how countries in Central, Eastern, and Southeastern Europe (CESEE) can improve fiscal transparency, thereby raising government efficiency and reducing corruption vulnerabilities.
The coronavirus pandemic has upended local, national, and global food systems, and put the Sustainable Development Goals further out of reach. But lessons from the world’s response to the pandemic can help address future shocks and contribute to food system change. In the 2021 Global Food Policy Report, IFPRI researchers and other food policy experts explore the impacts of the pandemic and government policy responses, particularly for the poor and disadvantaged, and consider what this means for transforming our food systems to be healthy, resilient, efficient, sustainable, and inclusive. Chapters in the report look at balancing health and economic policies, promoting healthy diets and nutrition, strengthening social protection policies and inclusion, integrating natural resource protection into food sector policies, and enhancing the contribution of the private sector. Regional sections look at the diverse experiences around the world, and a special section on finance looks at innovative ways of funding food system transformation. Critical questions addressed include: - Who felt the greatest impact from falling incomes and food system disruptions caused by the pandemic? - How can countries find an effective balance among health, economic, and social policies in the face of crisis? - How did lockdowns affect diet quality and quantity in rural and urban areas? - Do national social protection systems such as cash transfers have the capacity to protect poor and vulnerable groups in a global crisis? - Can better integration of agricultural and ecosystem polices help prevent the next pandemic? - How did companies accelerate ongoing trends in digitalization and integration to keep food supply chains moving? - What different challenges did the pandemic spark in Asia, Africa, and Latin America and how did these regions respond?
World Development Report 1994 examines the link between infrastructure and development and explores ways in which developing countries can improve both the provision and the quality of infrastructure services. In recent decades, developing countries have made substantial investments in infrastructure, achieving dramatic gains for households and producers by expanding their access to services such as safe water, sanitation, electric power, telecommunications, and transport. Even more infrastructure investment and expansion are needed in order to extend the reach of services - especially to people living in rural areas and to the poor. But as this report shows, the quantity of investment cannot be the exclusive focus of policy. Improving the quality of infrastructure service also is vital. Both quantity and quality improvements are essential to modernize and diversify production, help countries compete internationally, and accommodate rapid urbanization. The report identifies the basic cause of poor past performance as inadequate institutional incentives for improving the provision of infrastructure. To promote more efficient and responsive service delivery, incentives need to be changed through commercial management, competition, and user involvement. Several trends are helping to improve the performance of infrastructure. First, innovation in technology and in the regulatory management of markets makes more diversity possible in the supply of services. Second, an evaluation of the role of government is leading to a shift from direct government provision of services to increasing private sector provision and recent experience in many countries with public-private partnerships is highlighting new ways to increase efficiency and expand services. Third, increased concern about social and environmental sustainability has heightened public interest in infrastructure design and performance.
This Public Expenditure Review (PER) provides an integrated perspective on Iraq’s need to provide better public service delivery, while maintaining macroeconomic stability and fiscal discipline. The achievement of these objectives unfolds within a challenging context of revenue volatility, the need to diversify the economy, weak accountability mechanisms, and residual conflict. Reflecting these challenges, key socio-economic developmental indicators are stalled or even declining despite rapid growth in public spending. Indeed, the review shows that growth in spending has not been matched by absorptive capacity, let alone improved outcomes. The difficult task of constructing the fiscal institutions to embed the practices of good economic management remains a work-in-progress. The PER is one component of World Bank assistance to the government to improve public expenditure policy and management. The challenge for the Iraqi authorities in the years ahead will be to turn oil revenues into sustained welfare improvements. Macroeconomic stability alone is not enough to address social and economic development issues and to avoid a resource curse. Iraq’s oil wealth alone cannot generate sustainably high living standards for the majority of its population. Economic diversification is an imperative—both to create jobs and to promote income-generating opportunities for the Iraqi population. The key challenges for the authorities therefore are (i) to remove constraints to non-hydrocarbon economic activities; (ii) to ensure the efficient use of oil revenue; and (iii) to restrain the growth of current spending (in particular wage bill and subsidies) to free up resources for public investment, while maintaining essential safety nets and social support for the poor and disadvantaged. Public investment management is a crosscutting capability that is needed to meet Iraq’s development objectives. The government has the opportunity to take concrete steps now. The PER proposes approaches and actions to better use Iraq’s oil revenues by shifting to a save and invest via curbing inefficient spending and redirecting resources to public investment and basic services. As economic growth prospects are favorable in the medium-term, the Iraqi government has the opportunity to lay the foundations of a broadly diversified economy, with a reasonable footprint that provides decent public services and security while facilitating adequate economic freedom. Senior policy makers at the Ministry of Finance, Ministry of Planning and line ministries are the primary audience of this work.
Republic of Iraq Public Expenditure Review: Toward More Efficient Spending for Better Service Delivery provides an integrated perspective on how Iraq needs to provide better public service delivery while maintaining macroeconomic stability and fiscal discipline. These goals exist amid a challenging context of revenue volatility, the need to diversify the economy, weak accountability mechanisms, and residual conflict. Reflecting these challenges, key socioeconomic developmental indicators are stalled or are even declining despite rapid growth in public spending. Growth in spending has not been matched by absorptive capacity, let alone improved outcomes. The difficult task of encouraging fiscal institutions to embed practices of good economic management remains a work in progress. The task for Iraqi authorities will be to turn oil revenues into sustained welfare improvements. Macroeconomic stability alone is not enough to address social and economic development issues and to avoid a 'resource curse'. Economic diversification is imperative for the goals of creating jobs and promoting income-generating opportunities for the Iraqi population. In the years ahead, Iraqi government authorities will have the following key challenges: - to remove constraints to nonhydrocarbon economic activities, - to ensure the effi cient use of oil revenue, and - to restrain the growth of current spending to free up resources for public investment, while maintaining essential safety nets and social support for the poor and disadvantaged. Senior policymakers at the Ministry of Finance, Ministry of Planning, and line ministries have the opportunity to take concrete steps now. As economic growth prospects are favorable in the medium term, the Iraqi government needs to lay the foundations of a broadly diversified economy and to provide decent public services and security while facilitating adequate economic freedom.