The Ministry of Finance has revealed the introduction of Integrated Bank of Projects (IBP) system has increased the tracking of projects in the country.
Speaking at the official launch of the IBP system, the finance minister in charge of general duties, Henry Musasizi noted that previously, Public Investment Management suffered numerous challenges including limited tracking of projects by both the technocrats and politicians, which often hindered effective monitoring of project performance and consequently failure to attain project outcomes.
He, however, says with the IBP system, projects which have completed the appraisal process have increased tremendously from 10% to 37%.
Musasizi says this is because, the system provides a faster and more effective project preparation and appraisal platform because all processes, templates, and workflows are streamlined in the system.
The system has user rights for different categories of stakeholders including development partners to enable them have real-time access to project-related information.
