The Asian Development Bank (ADB) has approved a new technical assistance program aimed at strengthening public financial management and public procurement systems in the Asia-Pacific region, including Azerbaijan, APA-Economics reports.
The total value of the regional project, titled “Conducting Fiduciary Assessments and Strengthening Public Financial Management Systems in Asia and the Pacific,” amounts to $500,000.
According to the information, the program, financed through the ADB Technical Assistance Special Fund, will cover more than 40 countries, including Azerbaijan, during 2026–2028.
Within the framework of the project, it is planned to assess public financial management and public procurement systems in participating countries, prepare action plans to address identified issues, strengthen the institutional capacity of government agencies, and organize practical training and knowledge-sharing activities.
In addition, the program includes improving the implementation of the international MAPS methodology for public procurement assessment and expanding ADB’s international cooperation in this field.
ADB noted that the initiative aims to support more effective execution of state budgets, internal financial control, financial reporting, auditing, and public procurement, as well as to enhance transparency and accountability through digital solutions.