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IDB approves $38.6 million loan to Brazil to strengthen oversight of accounts and administration

The Inter-American Development Bank today announced the approval of a $38.6 million loan to Brazil for the first phase of a program to strengthen the system of government oversight and external control at the state and local levels.

The resources will enable the government to launch a program that will improve the flow of information between the audit courts and the various branches and levels of government. Technical assistance will be provided to improve the policy framework and the information system, and oversight procedures will be redesigned to better comply with the Fiscal Responsibility Law.

The Association of Audit Court Officers of Brazil and the Instituto Ruy Barbosa will share responsibilities for execution of the program.

The project will standardize selected procedures of the audit courts, improve interaction among the courts with government institutions and increase transparency and citizens’ participation through an increased flow of information.

At the local level, the program will finance 33 projects at audit courts to modernize their oversight systems, strengthen the participating institutions and improve consistency, The audit courts will be integrated into the government management cycle, and new methods, techniques and procedures will be designed and carried out, along with updated information technology and human resources training. Closer interagency ties will be forged with other entities and branches of government at the federal, state and local levels and with society.

The IDB’s country strategy for Brazil places a priority on supporting improved efficiency and effectiveness of public spending and its oversight and control.

The loan is for a 20-year term, with a four-year grace period, at a variable interest rate. Local counterpart funds total $25,800,000.

The program will be carried out by the Ministry of Planning, Budget and Management.*

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