Microsoft Word pcr uzb public Finance Management Reform Project Final 7Sept2017. docx

D. 
Preliminary Assessment of Sustainability 
37. 
The project is rated 
likely sustainable
. Despite implementation delays and the 
cancellation of a significant portion of ADB loan funds, the project was completed. Government 
ownership and commitment are in place within the Treasury and the MOF. There is existing 
internal software development capacity built to support UzASBO and the updated GFMIS within 
the Treasury. Moreover, the Treasury is supported by a local IT firm that is under contract until 
2023. Similarly, the government has sufficient resources, remains committed to upgrade its 
hardware and operating systems, and has in-depth in-house technical skills. Treasury with the 
support of the local software developer has trained all users of the new systems. To improve 
sustainability, a central IT support center established within the Treasury provides user support 
assistance. 
E. 
Impact 
38. 
At completion, the impact is evaluated 
moderate
. This project, along with support from 
other international financial institutions, helped the government modernize the Treasury. 
Modernization is apparent from the efficient operations and processes at all budget execution 
levels, resulting in more effective public expenditure management. Treasury has tested the 
updated software, which it is progressively implementing from June 2017. Including the revenue 
module in Treasury and recording budget commitments will improve planning and reduce the 

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under collection of revenues and over-budget expenditures. The project has implemented the 
TSA, which will assist in the efficient use of funds. However, the project did not achieve all 
impact-level indicators and has not yet prepared a multiyear rolling budget. 
39. 
Social impact
. At project appraisal, the benefits of the project were assessed to be 
indirect and will be reflected in (i) improved budget quality; (ii) budget execution efficiency and 
link between budgeting and policy objectives as well as program outcomes; (iii) greater PFM 
transparency and accountability, underpinned by the established treasury institutional network 
and modern treasury system; and (iv) gradual progress in preparation for the MTBF and 
program budgeting. The project’s direct economic benefits will be savings derived from better 
cash management, greater accountability, and reduced tax and other burdens. It is too early to 
complete a full analysis but the expected benefits will be realized over time. 
40.