The United Kingdom is to support the Ghana Integrated Fina ncial Management Information System (GIFMIS) with 12 million pounds towards bett e r revenue utilisation and accountability.
The Country Director of the United Kingdom’s Department for International Develo pment (DfID), Mr Eric Hawthron and Ghana’s Minister of Finance and Economic Plan n ing, Dr Kwabena Duffuor on Thursday signed a memorandum of understanding for the
support in Accra.
GIFMIS is a project that aims at improving the effectiveness of Ghana’s public e xpenditure, reducing wasteful spending and making it easy to track what governme n t money has been spent on.
Mr Hawthron explained that 10 million pounds would be directed to the GIFMIS wit h the remaining two million pounds going to support technical assistance for spe c ialized consultancy services when necessary.
DFID, now UKaid, is the public face of the UK government’s development assistanc e, which has been introduced to help make it easier for people to see where the U K’s aid budget is being spent and how it is being used to tackle global poverty.
“The UK government is committed to assist Ghana to reduce poverty and reach a mi ddle income status as envisaged by the Government of Ghana,” Mr Hawthron said.
Dr Duffuor said under the GIFMIS project, the Ghana Government would publish sta ndard annual financial reports and strengthen internal controls and auditing cap a bilities.
The GIFMIS, he said, would also enhance annual budget preparation, modernize rev enue collection processes, empower local government units, modernize electronic d ata transmission and storage and disaster recovery systems, among others.