Workshop and Study Tours on Procurement and Financial Management of World Bank Funded Projects

Workshop and Study Tours on Procurement and Financial Management of World Bank Funded Projects was a tailor-made program organized by Risalat for the members of the two ministries of Maldives. The program had a duration of 5 days and was held across two Turkish cities of Istanbul and Sakarya (Hendek). The delivery mode of the program was discussion-oriented emphasizing on knowledge and experience share between the representatives of public and private sector of the host country and the delegates.

Both the workshop and the study tours were tailor-made for the client organizations. There were 7 participants in total from the two ministries of Maldives: The Ministry of Fisheries, Marine Resources, and Agriculture and the Ministry of Environment (3 and 4 attendees respectively). The main goal for program delegates was to learn about the World Bank’s Procurement and Financial Management guidelines and understand their application in practice. Moreover, another equally important component was the practical comprehension of the host country’s project experience with the World Bank.

A brief description of the content in each section has been given below:

Procurement Management for World Bank Funded Projects

• The World Bank’s new procurement framework (Equipment and Works)
• The requirements under the new procurement framework
• VFM as the key to effective procurement
• Strategic and Operational Procurement Planning
• Drafting the PPSD
• Borrower’s operational context and capability
• Procurement Risk Analysis under PPSD
• Needs Assessment
• NCB and ICB and relevant applicable regulations
• Works under WB framework
• Fraud in Procurement

Body of Knowledge in Financial Management for World Bank Funded Projects

• World Bank Project Cycle and Project Documentation
• Borrower Responsibilities
• Financial Reporting and Its Cycle
• Internal Control
• Planning and Budgeting
• Project accounting system; IFRS
• Internal Audit Control
• Funding Structures and Strategies

In addition to the workshop sessions, the delegates joined 5 study visits where they had a chance to meet the public and private entities and their representatives working on World Bank Funded Projects. In addition, they were also invited to present the work of their ministries under WB funding in Maldives.

The study visits included:

• Industrial Region Visit, Sakarya
• Sakarya Industry and Commodity Exchange Board of Directors Meeting
• Sakarya Chamber of Commerce Visit
• Visit to District Governorate
• Visit and Meeting with Mayor of Hendek

As a part of Risalat’s Commitment to Cultural Exchange between the guest and the host countries, the delegates were also invited to participate in sightseeing tours across Sakarya as well as food tasting and welcome dinner.  Participants also had a chance to get involved in a city planting ceremony organized as a courtesy by the mayor office to Risalat Delegates.

Stay Tuned to Risalat Social Media

LinkedIn | Twitter | Facebook | YouTube