During its post-conflict recovery, Somalia struggled to manage public funds effectively. There was a pressing need to improve the capabilities of central finance agencies and specific sectors to enhance financial management. This highlighted a critical need for specialised efforts to improve Somalia’s financial management skills to support its path towards stable economic growth.

‍

About the project

The Second Public Financial Management Capacity Strengthening Project was a World Bank project aimed to establish and strengthen institutional capacity for the management of public funds in central the project comprises six components. Asal was contracted by Crown Agents to support the first component, revenue mobilisation, planning, and budget preparation consists of following two sub-components: (i) strengthening planning and budget preparation; and (ii) revenue mobilisation and tax administration. finance agencies and targeted sectors.  Asal, through the provision of technical experts, supported the Ministry of Finance in the areas of revenue mobilisation, planning, and budget preparation to assist in treasury management, budget execution, procurement, accounting, and financial reporting. This project was especially important as it strengthened integrity pillars to ensure transparency and accountability was significant in contributing to the rebuilding of Somalia’s financial management landscape.

‍

Outcomes

Technical experts deployed by Asal supported enhancement of the capacity for revenue mobilisation and budget planning for improved financial planning and resource allocation. Our contribution to this project, channeled through our lead partner Crown Agents, improved treasury management practices, resulting in more efficient budget execution and better monitoring of expenditure and significantly contributed to the sustainability of improved financial management practices in Somalia. This led to improved financial decision-making across the Ministry, which included streamlined procurement processes, leading to the improved use of public funds to reduce inefficiencies. Our work contributed to the sustainability of improved financial management practices in Somalia.