Nicaragua's New Public Financial Management Model Wins IDB Backing

The Inter-American Development Bank is lending USD10 million to help implement Nicaragua’s new model for public sector financial management.

The Integrated Administrative and Financial Management System, abbreviated as SIGAF in Spanish, aims to halve the time needed to prepare and publish central government financial statements, lower the cost of government purchases, increase public access to vital fiscal information, and create multiyear fiscal projections linked to budget and expenditure policies.

The IDB loan is expected to help mobilize another USD10 million from the World Bank and USD2.4 million from the European Union for SIGAF.  

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    Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.