CABEI supports Guatemala's Public Finance Ministry in its digital transformation

Antigua Guatemala, March 29tth, 2022. – In order to expand the services of the Public Finance Ministry of the Republic of Guatemala (MINFIN) and improve the efficiency of fiscal policy administration and compliance with new regulations on transparency and procurement, the Central American Bank for Economic Integration (CABEI) approved a non-reimbursable cooperation grant of US$1 million to implement the MINFIN's Digital Service Management Transformation project.

These resources will also be used to carry out a diagnosis of the impact of tourism paralysis due to the COVID-19 pandemic and an economic reactivation plan that includes the identification of investment initiatives and models for their financial structuring.

CABEI Executive President, Dr. Dante Mossi, indicated that "this cooperation granted to MINFIN will contribute to improving the results and impact of the execution of fiscal policy, taxation and improving the quality of spending through the implementation of better pre-investment, administration and accountability practices, which is extremely important in terms of efficiency and transparency."

The project will have a positive impact on several MINFIN agencies, such as the State Procurement Training Directorate, the State Property Directorate, the Fiscal Transparency Directorate, the Customer Service Center and, in general, on the Guatemalan population that demands the Ministry's services. Execution of the resources is expected to be completed in two years.