afrol News, 15 July - The World Bank has announced a loan of $1.74 million to Guinea Bissau to train the government in public finance management.

According to sources from the Bank, the loan will also help the country implement a communications strategy, especially in explaining to people the importance of paying taxes.

The sources have indicated that the aid has been granted under the World Bank's Fund for Peace.

The loan will finance a combination of technical assistance and training in budgeting, management of taxes and customs and treasury activities.

Part of the amount is also intended to strengthen internal controls of the budget, including reforms of public purchasing.

Last June, the international body passed a package of $ 8 million for the period 2009-2010 with the aim to help Guinea Bissau in implementing its Strategic Programme of Poverty Reduction.

By staff writer

© afrol News

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