Published by Gbaf News
Posted on December 30, 2010
2 min readLast updated: January 22, 2026
The World Bank approved a US$10 million technical assistance loan today for the Nicaragua Public Financial Management Modernization Plan, to be undertaken with the support of the Inter-American Development Bank (IDB), the European Commission and the Kingdom of the Netherlands, with the intention of improving the accountability process.
“This project will strengthen governance through the modernization and professionalization of State institutions and the promotion of citizens’ participation,” said Camille Nuamah, World Bank Resident Representative in Nicaragua.
Some of the results expected from the implementation of this project include:
As part of the Modernization Plan, the new Administrative and Financial Management Integrated System (SIGAF) consists of a completely integrated and interoperable network application that will integrate and gradually replace the Financial and Audit Management Integrated System (SIGFA), articulating public record and operational control needs with access to that same information on the part of participating institutions and civil society in general, strengthening existing social control mechanisms.
“All governing offices within the Ministry will actively participate in the design of this project to guarantee system integration, its implementation and program sustainability,” said Alberto Guevara, Minister of Finance and Public Credit.
This project will be undertaken within the framework of the Country Partnership Strategy and will be coordinated by the Ministry of Finance and Public Credit, to be executed between 2011 and 2014 with a 40-year maturity period and a 10-year grace period.
Explore more articles in the Top Stories category
