Banco Montepio sells 45.78% stake in Mozambican Banco Terra to Arise
in file CoM
The European Union in Mozambique and the United Nations Development Program (UNDP) in Cape Verde signed a Delegation Agreement in late 2018 for the implementation of the second phase of the Program for the Consolidation of Economic Governance and Public Finance Management Systems in PALOP and Timor-Leste – Pro PALOP-TL ISC.
The program aims to strengthen the technical and functional competencies of external control, legislative oversight and public scrutiny of public finances in PALOP and Timor-Leste.
The EU will contribute 7,750,000 Euros out of a total budget of 7,843,700 Euros for a three-year implementation period. The Agreement was signed in the context of the 11th European Development Fund (EDF) and will be coordinated by the National Authorising Officer for the EDF of the Government of Mozambique.
Phase 2 of the Pro PALOP-TL ISC will capitalize on the successes of its predecessor Phase I 2014-2017 project by broadening the intervention logic with the aim of consolidating a south-south and triangular cooperation facility for the consolidation of public finance management systems in PALOP and Timor-Leste.
The project will continue to promote the consolidation of public finance management systems in the PALOP and Timor-Leste through enhanced budget transparency and public expenditure monitoring and control mechanisms.
The project’s approach will continue to be based on promoting peer learning, exchange of experiences among its beneficiaries to strengthen capacities, trigger transformational dynamics and promote sustainable change and impact on the citizens of PALOP and Timor-Leste.
The project will be implemented by UNDP Cape Verde and will carry out activities simultaneously in the six beneficiary countries, namely Angola, Cape Verde, Guinea Bissau, Mozambique, Sao Tome and Principe and Timor-Leste.Source: Radio Moçambique (RM)