ADB holds regional forum on financial management

The Asian Development Bank (ADB) has organised a two-day regional forum in Dhaka, focusing on financial management to enhance institutional capacity, transparency and accountability.

Economic Affairs Adviser to the Prime Minister, Dr Mashiur Rahman inaugurated the workshop at Westin Hotel in the capital on Tuesday.

Over 100 financial management experts, audit officials and project directors from Bangladesh, Bhutan, India, Nepal and Sri Lanka attended the event.

ADB Country Director for Bangladesh Manmohan Parkash delivered welcome remarks.

The forum will share 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.

"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," said Country Director Manmohan Parkash.

 "We all have a moral, ethical and legal responsibility to ensure that every dollar that we handle or spend are properly accounted and reported."

"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," Parkash also added.

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.