Burundi Takes Step Forward in Preventing Financial Fraud

Washington D.C., January 11, 2024 - World Bank Approves Additional Funding for Public Financial Management Reforms

The World Bank has approved an additional $42 million in financing to support Burundi’s efforts in enhancing Public Financial Management (PFM) efficiency and transparency. The funds will be used to implement reforms aimed at improving PFM processes and replacing manual systems with digital ones.

Quotes

“Prudent management of public resources plays a crucial role in fostering the equitable and sustainable development of a nation.” - Hawa C. Wagué, World Bank Country Manager for Burundi

The new financing is aligned with Burundi’s National Development Plan 2018-2027, which prioritizes improving resource mobilization and public expenditure management.

Project Focus

The project will focus on:

• Scaling up digital public services
• Increasing broadband internet access to underserved communities
• Enhancing the government’s capacity to manage resources more effectively

Additionally, technical assistance and the acquisition of core PFM systems and equipment will be provided to support the transition to digital public finance management.

Beneficiaries

Several ministries and agencies, including:

• Public Service
• Finance
• Treasury

will benefit from this additional financing. The World Bank’s International Development Association (IDA) has been instrumental in supporting Burundi’s development efforts, providing grants and low-to-zero-interest loans for projects designed to stimulate economic growth, reduce poverty, and improve the lives of the poorest.

Expected Outcomes

With this new funding, Burundi is expected to take significant steps towards:

• Preventing financial fraud
• Improving public finance management systems

The project will also strengthen relations between the government, citizens, and international partners, ultimately contributing to a more transparent and accountable governance system in the country.