ABG Outlines K100m
By STEPHANIE ELIZAH
ABG Outlines K100m
The ABG and the Bougainville Administration has successfully achieved establishing all systems required to process the drawdown of the first K100 million of the five year Special support grant from the PNG Government to ABG.
It is now awaiting the transfer of these funds into the ABG’s subsidiary account with Bank South Pacific Buka branch.
An information paper approved by the Bougainville Executive Council (BEC), revealed that part of the requirement of the drawdown of these funds included the ABG submitting a 2012 revised Cash Flow Projection to the National Department of Finance.
This is to indicate what level of cash was required by the ABG to commence implementing the High Impact Projects (HIPs) in the remaining months of this year.
According to the information paper, the cash flow is basically to indicate to the Department of Finance the amount of funds required by the ABG on a monthly basis to implement the HIPs in Bougainville.
In addition, all projects that were included in the Cash Flow projection are based on the ABG priorities for this year as endorsed by the Bougainville House of Representatives in December last year.
Endorsed by the BEC, the projects have been further grouped into ten main programs to ease the drawing down of the K100 million accordingly as:
Health K4,500,000
Economic Services K14,000,000
Mining Development K2,500,000
Education K 9,500,000
Law and Justice K 8,500,000
Infrastructure Development K29,500,000
Lands K500,000
Water and Sewerage/Sanitation K2,500,000
Community Services K5,500,000
Governance and Administration K 23,000,000
In addition to and in compliance with the provision of the National Government’s 2012 Appropriation Act, a Financial Manual for the management of the funds has been completed to complement the Operational Manual being developed for the Program Management Unit (PMU).
The PMU is the result of a recent review of the Governance Implementation Fund (GIF), in which it was recommended that the PMU be established to improve project management cycle (PMC) for projects funded under GIF.
The idea also coincided with the need to establish a body to manage High Impact Projects and programs under the National Government special funding package of K500 million over the next five years 2012 – 2016.
Having met all these requirements, according to the information paper, the ABG and its administration is still waiting for the K100 million.
By STEPHANIE ELIZAH
ABG Outlines K100m
The ABG and the Bougainville Administration has successfully achieved establishing all systems required to process the drawdown of the first K100 million of the five year Special support grant from the PNG Government to ABG.
It is now awaiting the transfer of these funds into the ABG’s subsidiary account with Bank South Pacific Buka branch.
An information paper approved by the Bougainville Executive Council (BEC), revealed that part of the requirement of the drawdown of these funds included the ABG submitting a 2012 revised Cash Flow Projection to the National Department of Finance.
This is to indicate what level of cash was required by the ABG to commence implementing the High Impact Projects (HIPs) in the remaining months of this year.
According to the information paper, the cash flow is basically to indicate to the Department of Finance the amount of funds required by the ABG on a monthly basis to implement the HIPs in Bougainville.
In addition, all projects that were included in the Cash Flow projection are based on the ABG priorities for this year as endorsed by the Bougainville House of Representatives in December last year.
Endorsed by the BEC, the projects have been further grouped into ten main programs to ease the drawing down of the K100 million accordingly as:
Health K4,500,000
Economic Services K14,000,000
Mining Development K2,500,000
Education K 9,500,000
Law and Justice K 8,500,000
Infrastructure Development K29,500,000
Lands K500,000
Water and Sewerage/Sanitation K2,500,000
Community Services K5,500,000
Governance and Administration K 23,000,000
In addition to and in compliance with the provision of the National Government’s 2012 Appropriation Act, a Financial Manual for the management of the funds has been completed to complement the Operational Manual being developed for the Program Management Unit (PMU).
The PMU is the result of a recent review of the Governance Implementation Fund (GIF), in which it was recommended that the PMU be established to improve project management cycle (PMC) for projects funded under GIF.
The idea also coincided with the need to establish a body to manage High Impact Projects and programs under the National Government special funding package of K500 million over the next five years 2012 – 2016.
Having met all these requirements, according to the information paper, the ABG and its administration is still waiting for the K100 million.
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