Liberia’s Ministry of Finance and Development Planning or MFDP says process has commenced for the selection and appointment of an independent “Fiduciary Agent” to assist the government with the financial management of the Ebola Trust Fund.
With numerous integrity institutions established here, quarrel continues within the government cycle, especially from the Legislature over funds management during this crisis period, and this latest move could help reduce tension as millions are pulling in to combat Ebola.
An MFDP release says the decision to contract an independent financial management firm was intended to uphold the government’s commitment to full transparency and accountability as announced recently by Liberia’s Minister of Finance and Development Planning, Amara Konneh.
According to Minister Konneh, the firm selected to provide the fiduciary service would manage the fund and supervise accounting related services, under the direction of the Minister of Finance and Development Planning, under the multi-donor governance structure.
It would be required to set up a sound financial management system to accurately record and report on all funds received and disbursed from the Trust Fund and providing a regular fund management report, the release says.
The Firm would also provide oversight of all procurement functions to ensure compliance with established guidelines of the government as well as those of development partners.
Working with sector entities, the Firm would work to design specific procurement procedures and rules tailored to meet the standard guidelines of Public Procurement and Concession Commission.
The Firm would among others, provide technical support to the Incident Management System and oversee the procurement of goods, works, non-consulting services and services to be funded from the Ebola Trust Fun, ETF. The government of Liberia in response to the Ebola Virus epidemic established the ETF at the Central of Bank of Liberia or CBL in a bid to attract resources from the government, private citizens and international donors.
The Fund was created with an initial US$5 million injection through a loan facility from the CBL. To date, the release says the fund has raised over 10 million dollars, with more donations expected from foreign partners and friendly governments in coming weeks.
Recently the Liberian government announced it needed US$375 million to effectively fund its National Ebola Response and Restoration of Basic Health Services strategy.