Management Assessment - visit of the IMF technical assistance mission
In 2019, with the technical
assistance of the IMF (International Monetary Fund), the
PIMA Report for the Republic of Moldova was developed, based on
which some recommendations for improving the management of public
investments were submitted. However, the current Public Investment
Assessment (PIMA) process does not provide a sufficient assessment of
how public investment management can support climate change mitigation
and adaptation. To this end, a new module has been introduced in the
current C-PIMA Public Investment Management Assessment Framework, which
aims to help governments identify potential improvements in
institutional capacity and processes related to public investment
management to develop an infrastructure with low carbon emissions,
resistant to climate change.
In order to develop the
module, a team from the Fiscal Affairs Department of the International
Monetary Fund (IMF) led by the Senior Economist Arturo Navvaro carried
out a technical assistance mission to the Ministry of Finance between
The Minister of Energy, Mr.
Parlicov, and the Minister of Agriculture and Food Industry, Mr. Bolea,
with their teams, and the representatives from the Ministry of
Infrastructure and Regional Development and the Ministry of the
Environment also attended the concluding meeting.
The findings of this mission
will help to develop an action plan for the implementation of the
management of public investments adapted to climate change.
During the concluding
meeting, the Minister of Finance Veronica Sirețeanu thanked the TA
mission team for the support provided by the IMF to the Republic of
Moldova, including the support of the IMF's technical assistance team,
as well as for the development of the PIMA Report for the Republic of
Moldova in 2019 and the recommendations for improving the management of
public investments , including recommendations on improving coordination
and reporting channels to develop monitoring on the dimension of climate
policy and investments, developing methodology selection projects, as
well as including climate change impact analyses.
The Minister also emphasized
that the team of the Ministry of Finance is open to effective
collaboration and counts a lot on the IMF's support and mutual
We note that C-PIMA is
designed around five pillars of public investment management that are
important for a climate-smart infrastructure: (1) planning, (2)
government-level coordination, (3) project evaluation and selection (4)
budgeting and portfolio management and (5) risk management. C-PIMA also
provides priorities and recommendations for strengthening a
climate-sensitive infrastructure, having been tested in eleven countries
and providing early lessons on its effectiveness.
The PIMA public investment
management assessment tool was developed by the IMF in 2015 and has
already been applied in more than 70 countries.