.Yamba

By CHARITY MOONGA –

THE European Union has given Zambia €1.1 million (approximately K8.8 million) for capacity building in public financial management.
EU delegation to Zambia and Comesa head of cooperation Aad Biesebroek said the project would be implemented over a period of three years.
Mr Biesebroak said this in Lusaka on Wednesday during the launch of the public finance management project.
He said sound public financial management systems were essential for good governance in any country.
The capacity building fund was part of the €13 million approved for Zambia by the EU in 2013 to support public finance management and accountability.
He said public financial management systems were critical to the performance of all sectors of the economy and for an efficient delivery of public services.
The funding would concentrate on developing a system for survival beyond cooperating partners’ support.
Secretary to the Treasury Fredson Yamba said Government attached importance to capacity building in public financial management.
A sound public financial management would ensure that resources were allocated to economic sectors in line with Government’s social and economic policies to promote economic growth.
It would also ensure that the resources provided were accounted for in a transparent manner.
He said the project would also play a critical role in addressing irregularities highlighted in the Auditor General’s report.
“Public financial management reforms are so important because how the Government uses the financial resources has a direct impact on the social and economic development of the country,” he said.
Despite achievements made under public financial management, more was still required to be done hence the need for capacity building.
Mr Yamba thanked the EU for the assistance and reiterated Government’s determination to implement the programme.