PMCG and WYG have signed the WB funded project in public finance
A consortium of PMCG and WYG International are jointly implementing the WB funded project ‘Preparation of the functional and technical design of the Public Financial Management System (PFMS) for the structural units of the Ministry of Finance of Georgia”.
Start Date: January 2009
End Date: July 2009
Client: Ministry of Finance of Georgia
Funder: The World Bank
Description of the Project:
The project will be conducted by PMCG and WYG International consortium. WYG is an international multi-disciplinary consultant with over 3000 staff located in more than 30 offices providing a comprehensive and co-ordinated range of high quality socio economic, planning, environmental, engineering, surveying and management services to a diverse range of clients in the public and private sectors.
The project originated at the beginning of 2006 when the Ministry of Finance of Georgia endorsed the Strategic Vision for Public Financial Management Reform. This document presents a diagnosis of the challenges faced by the Georgian Government in public financial management and provides directions for implementation of this vital reform. Strengthening budgeting, accounting and reporting mechanisms and practice is one of the key elements of this Strategic Vision.
In order to realize this Vision, that intends to develop, procure and implement an integrated Public Financial Management System (PFMS). To assist in the PFMS functional and technical design and preparation of technical requirements, PMCG and WYG International consortium will provide advisory services covering all important aspects of the PFM cycle (i.e. budget preparation and execution, cash and debt management, loan management and restructuring, revenue planning model, treasury operations, public accounting, financial reporting, procurement, human resources management, payroll calculations, financial control and auditing) and related Information and Communication Technology (ICT) solutions.