Delegation of the European Union to Angola

New EU financial package of EUR 142 million to strengthen public financial management and social security in Bangladesh

24/07/2019 - 10:41
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Signing ceremony: EU financial package of EUR 142 million to strengthen public financial management and social security in Bangladesh

 

Press Information Notice

 

Today, with the launch of two programmes to support key national reform agendas in public financial management and social security, the European Union (EU) reiterates its commitment to the eradication of poverty and inequalities and its support to Bangladesh to reach the Sustainable Development Goals and to graduate to middle-income country.

 

These EU-funded programmes aim to contribute to implement two important sector strategies. The Public Financial Management Reform Strategy (PFM-RS) sets out the key goals and objectives of reforms in the sector and identifies priority actions. The National Social Security Strategy (NSSS) sets an important roadmap to enhance the governance, institutional capacity and accountability of the social security system to better serve the needs of poor and vulnerable Bangladeshis, along the life-cycle.   

 

As stated by the Secretary of ERD, Monowar Ahmed: "The Government of Bangladesh acknowledges the longstanding support of the EU in sectors as crucial as PFM and social security. We are looking forward to further strengthening our solid partnership with one of our key donors in Bangladesh and together making an important contribution to reaching the SDGs by 2030".

 

"Public financial management and social protection represent fundamental areas of collaboration for the EU in Bangladesh. As the country looks forward to the 8th Five Year Plan, they remain key priorities," said the Ambassador of the EU, Rensje Teerink. "The EU's contribution aims to address core elements of system strengthening and policy development. The focus will be on improving domestic resource mobilisation, promoting domestic accountability and enhancing delivery of social security to Bangladeshis in need – with the shared objective to leave no one behind."

 

Bangladesh has made great developmental progress over the last decades. The country still needs to address a number of challenges and build new strengths to ensure inclusive growth. Transition to middle-income status will also depend on addressing these challenges. PFM and social security feature as salient preconditions.

 

The programme of supporting to the implementation of the PFM Reform Strategic Plan, of EUR 10 million, aims at strengthening domestic revenue mobilisation and domestic accountability. It will provide targeted technical assistance to the Government agencies in the areas of domestic revenue mobilisation with the National Board of Revenues and domestic accountability with the Office of the Comptroller and Auditor General and with the National Parliament.

 

The programme of support to NSSS reforms will provide EUR 130 million as budget support, linked to jointly-agreed performance indicators over the next 4 years. The programme will address core elements of system strengthening and policy development with a focus on women and young children. Technical assistance is also provided to support the cluster of institutions responsible to coordinate and deliver NSSS reforms. This includes the Cabinet Division, the Finance Division of the Ministry of Finance, the General Economic Division of the Planning Commission, the Ministry of Women and Children Affairs and the Ministry of Social Welfare.

For more information please contact:  

 

Audrey Maillot        

Team Leader, Governance

EU Delegation, Dhaka

Audrey.Maillot@eeas.europa.eu

(on PFM)

 

Manfred Fernholz

Team leader, Food and Nutrition Security & 

Sustainable Development

EU Delegation, Dhaka

Manfred.Fernholz@eeas.europa.eu

(on social security)

 

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