1. PRIMA EXPERIENCE IN LAC REGION
A. Moustapha Ndiaye

2. Why Prima?
Need to monitor FM in projects portfolio both in terms of due diligence and performance
Existence of separate and non-uniformed monitoring systems
Excel-based, information not updated regularly and not consolidated
Building on RAPMAN experience

3. Monthly portfolio monitoring
Substantial & High Risk Projects
FMS Performance Less Than MS
FM Rating Variance
Incomplete Risk Data
Overdue Supervision
Pending Approval
Overdue FMR

4. Getting the big picture
Financial Management Performance :93% of the projects under implementation rated moderately satisfactory or better
Financial Management Performance in the projects portfolio is monitored as part of supervision on the basis of the capacity to provide timely and reliable information required to manage and monitor the implementation of the project. This includes budgeting, accounting, internal control, financial reporting and auditing.

5. Getting the big picture
Financial Management Risk : Financial Management Risk is low and moderate for 80% of the projects under implementation
Financial Management Risk combines the project Inherent Risk (which arises from the environment in which the project is situated) and Control Risk (that the financial management system is inadequate to ensure project funds are used economically and efficiently and for the purpose intended).

6. Getting the big picture
Audit compliance -
The number of projects with overdue audit reports has decreased to 35 from 53 as of last month. This improvement is also reflected in the number of projects with audit reports overdue more than 9 months (5 projects, compared to 11). There is good indication that 4 out of 5 will be submitted to the Bank soon. Overdue audit reports are consistently being monitored.