Mauritania: Strengthening Budget Transparency

FSVC training for the Mauritanian Ministry of Finance. Nouakchott, Mauritania, June 2023.

FSVC, with funding from the U.S. Department of State, is implementing a program to strengthen budget transparency and support the implementation of public financial management reforms in Mauritania. This program seeks to build the capacity of civil society organizations (CSOs) to conduct budget analysis and advocate for budget transparency while simultaneously strengthening the government’s budget disclosure, planning and audit capabilities.

FSVC recently held two activities for the Ministry of Finance (MoF) and local CSOs on open budget principles, with a focus on how to design and disseminate Mauritania’s first-ever Citizens Budget (CB). The CB is a key budget document that provides simplified information on the national budget in a format accessible to all citizens. In the initial training in March 2023, FSVC experts explained the concept of an “open budget” and outlined the key documents that should be made publicly available. They also emphasized that the government needs to provide and disseminate information that is clear, accessible and reflective of the country’s policies, institutional programs and budget allocations. Furthermore, FSVC provided step-by-step guidance to the MoF on how to design a CB and effectively disseminate it in partnership with CSOs to maximize its reach. During a follow-up activity in June, FSVC hosted a successful public-private roundtable between the MoF and CSOs on how to formulate and disseminate the CB in Mauritania. FSVC presented a mock version of the CB as a basis for discussion.

Throughout this program, FSVC will continue to solicit feedback from CSOs, and help the MoF incorporate their recommendations into the CB, thus ensuring that the process is inclusive and collaborative.

FSVC is committed to enhancing access to finance for micro-, small, and medium-sized enterprises (MSMEs) to promote inclusive economic development by providing technical assistance to financial institutions. FSVC does so by working with counterparts to develop specialized products that support MSME growth, and by providing training to MSME business support organizations on business skills needed for MSMEs to attract financing.

In Iraq, FSVC recently held a training for representatives from local MSMEs, the Baghdad Chamber of Commerce and the Federation of Chambers of Commerce on how to assess market expansion opportunities. FSVC’s volunteer expert facilitated productive conversations between MSMEs and Chambers representatives on how their organizations can support MSMEs in identifying new regional and international markets and preparing them to export their products. As a result of this training, participants increased their understanding of how to identify opportunities for expansion, which will ultimately help accelerate MSME growth in Iraq.

FSVC, supported by funding from the U.S. Department of State, looks forward to continuing to help build the entrepreneurial ecosystem in Iraq.

FSVC President & CEO Andy Spindler, Vice Chairman Bill Mills, Managing Director Andrea Perraud and other staff members recently met with the Vietnamese Minister of Planning and Investment Nguyen Chi Dzung, Vietnamese Ambassador to the U.S. Nguyen Quoc Dzung, and a delegation from the Ministry of Planning and Investment to discuss the Vietnamese Government’s plan to establish an International Financial Center (IFC) in Ho Chi Minh City.

During the meeting, FSVC shared lessons learned from its experience supporting the development of IFCs in other emerging market locations such as Dubai, Astana and Istanbul. In addition, FSVC discussed macro-level and operational factors to be considered in the decision to establish an IFC, such as whether the IFC will be separate or part of the country’s financial sector, the importance of developing credible rules and regulations, and establishing a credible supervisory authority for the IFC. The meeting provided a valuable platform for exchange of ideas, and covered a range of topics the Vietnamese Government will need to consider as it weighs its’ best course of action.