A session to train Regional and District Budget Analysts and Coordinating Directors of Metropolitan, Municipal and District Assemblies (MMDAs) and Regional Coordinating Councils (RCC) on the Ghana Integrated Financial Management Information Service (GIFMIS) under the Gulf of Guinea Northern Regions Social Cohesion (SOCO) Project implementing beneficiary communities has been organised in Tamale, Northern Region.
The session equipped participants with a comprehensive understanding of the SOCO Project's goals and operational frameworks, focusing on enhancing regional collaboration and socio-economic resilience in the Northern regions of the Gulf of Guinea countries.
Participants were taken through the Project's components, including investments in community resilience, youth entrepreneurship, and establishment of regional coordination platform.
The financial management system of the Project was highlighted, emphasising the importance of efficient fund utilization and adherence to the World Bank's guidelines. The session also outlined the disbursement arrangements, including the flow of funds from the World Bank to designated accounts and allocation of funds to District Assemblies (DAs) based on vulnerability indices and defined formulas of the Project.
Participants were informed about eligible and ineligible expenditures to ensure compliance and transparency.
The GIFMIS is an ICT-based platform used by the Government of Ghana to improve public financial management by managing commitments, processing payment claims, and producing financial reports.
Participants learned about the challenges faced by the Public Finances Management (PFM) system in Ghana and the benefits of implementing GIFMIS, including improved financial data consolidation and transparency. Overall, the orientation and training sessions provided a solid foundation for participants to contribute meaningfully to the success of the SOCO project.
Source: Stephanie Edem Klutse
(MLGDRD, Public Relations Unit)