Government returns to grow to $1.7 for every invested dollar
What you need to know:
- The Integrated Bank of Projects (IBP), an online system, will be a central depository through which public projects returns are monitored.
- The system is designed to help stakeholders involved in public investment management measure returns for a project’s life cycle through storing information on public investment projects, which is later aggregated to measure the entire project’s returns.
Kampala. Government will beginning next financial year, make $1.7 as return on investment for every dollar invested in various projects.
This will be a growth from $0.8 that government is currently earning.
Speaking on the sidelines of the launch of the Integrated Bank of Projects (IBP) in Kampala, Dr James Wokadara, the commissioner for project analysis and public investment in the Ministry of Finance, said: “Currently the return on public investment projects is $0.8 for every dollar invested but following the launch of IBP, return on public investment will significantly increase to above $1 or $1.7 per every dollar invested.”
The Integrated Bank of Projects (IBP), an online system, will be a central depository through which public projects returns are monitored.
The system is designed to help stakeholders involved in public investment management measure returns for a project’s life cycle through storing information on public investment projects, which is later aggregated to measure the entire project’s returns.
It also factors in the ease with which workflow is managed as well as coordinating and improving accountability, reduce cost of projects preparation and generated statistical reports.
Ministry of finance officials say software architecture is designed in a way which is allowing subsequent integration with existing systems (PBS, IFMIS), it has phase one and phase two.
