Asian Development Bank (ADB) Country Director Manmohan Parkash has said strong public financial management is essential to improve public service delivery, enhance financial efficiency, strengthen transparency and accountability, accelerate poverty reduction, and achieve sustainable development.
“We all have moral, ethical and legal responsibility to ensure that every dollar that we handle or spend is properly accounted and reported," he said while addressing a programme in the city on Tuesday.Manmohan said further improved public financial management system in the region can significantly improve the efficiency and equity of government operations, and increase participation, transparency and accountability.
A two-day regional forum, organised by ADB, began in the city on Tuesday focusing on financial management to enhance institutional capacity, transparency and accountability.
Economic Affairs Adviser to the Prime Minister Dr Mashiur Rahman opened the workshop at The Westin.
Over 100 financial management experts, audit officials and project directors from Bangladesh, Bhutan, India, Nepal and Sri Lanka are attending the event.
The forum is sharing experiences from the region on improving public sector accounting and financial reporting system, transitioning to risk-based auditing, supreme audit institutions for strengthening transparency and accountability, and accrual-based accounting, said a media release.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.