On September 19, the Regional Project “Public Finance Management in the South Caucasus” has been launched, which is aimed at bringing financial subsystems closer to the European standards in terms of effectiveness, efficiency and accountability.
The Regional Project “Public Finance Management in the South Caucasus”, being a part of Caucasus Initiative, is being implemented from April 1, 2017 to March 31, 2020, as the continuation of the previous project (from April 2017 to March 2017, the Project "Strengthening the Independence, Efficiency and Transparency of the Armenian External Audit System" was implemented).
During 2017-2020, within the framework of the Project “Public Finance Management in the South Caucasus”, it is planned to continue to cooperation in the following key areas:
- programme budgeting,
- public internal financial control (including internal audit),
- public procurements.
The Project is implemented by the German Corporation for International Cooperation (GIZ).
Today, the signing of the Memorandum of Understanding took place with the participation of RA Minister of Finance Vardan Aramyan.