Stakeholders pledge commitment to strengthen financial management of IFAD projects

Stakeholders in agriculture and financial institutions, have pledged commitment to strengthen financial management of the International Fund for Agricultural Development (IFAD) projects in West and Central Africa (WCA).

They made the pledge in a communiqué issued on Friday in Abuja at the end of a three-day Regional Training Workshop on Financial Management for IFAD-funded projects.

The participants included Coordinators, Finance Managers, Accountants, Internal and external Auditors from Supreme Audit Institutions, as well as ministries experts drawn from Gambia, Ghana, Liberia, Nigeria and Sierra Leone.

The 130 participants at the workshop were drawn from five Anglophone countries from WCA.

They pledged their commitment to implement the financial management best practices, and tools shared during the workshop to enhance project efficiency, reporting and value for money.

The communiqué noted that the training was to support the effective implementation of major financial management, and fiduciary reforms for the projects.

“These reforms aim to enhance the efficiency and effectiveness of projects for greater impact on the livelihood of small-scale farmers, women, young people and other vulnerable groups living in rural areas.

“The primary aim of the training workshop was to strengthen the capacity of stakeholders with a view to improving the quality of financial management of IFAD-financed projects and programmes,’’it said.

Mr Radu Damianov, IFAD WCA Senior Regional Financial Management Department (FMD) Officer appreciated the active participation of all stakeholders, describing it as critical for achieving the workshop objectives.

Daminanov said that the FMD in partnership with the Regional and Country offices would provide continuous technical advice to participants to accelerate the implementation of the financial reforms.

Dr Ernest Umakhihe, Permanent Secretary, Federal Ministry of Agriculture and Rural Development lauded IFAD for the workshop.

He said that it would contribute to scaling up the impact of projects funded by IFAD, and government on agriculture and food system transformation.

Umakhihe was represented by Mr Bukar Musa, Director Projects Coordinating Unit.

He urged all participants to continue to collaborate and network within and across West and Central Africa countries, for continued exchange of knowledge and best practices.

“I solicit the support of IFAD to pursue this south-south cooperation in financial management,’’ he said.

The highpoint of the event was the presentation of certificates to the 130 participants.

NAN / Foluke Ibitomi