The program, titled Spending Effectively for Enhanced Development (Speed), will support selected actions of public financial management strategy, health policy, and education sectoral plan at an overall cost of $600 million. The World Bank will finance a portion of the program with a loan of $375m while the KP government will provide the balance.
The objective of the SPEED programme is to improve the availability and management of public resources for the delivery of primary, middle, and high-school education and primary health care services.
The provincial government faces challenges in the management of public finances including policy-driven planning and budgeting; comprehensive, credible, and transparent budget; predictability and control in budget execution; resource mobilization; asset and liability management; and accountability for results. It has been implementing a programme comprising strategic objectives derived from key plans at a cost of $1 billion.