The Board of Directors of the African Development Bank has authorized the creation of a Virtual Public Finance Management Academy for Africa (PFMA in English). The academy will deepen the partnership with the International Monetary Fund, the World Bank, and African countries to improve public financial management practices in Africa.

The PFMA will be a virtual platform for building the capacity of African countries, across the entire public finance management cycle and ecosystem. Support in the form of training, technical assistance and policy dialogue will be provided to countries through structured, targeted and dedicated capacity-building programmes. The Academy will welcome technical officials in public finance management and senior government officials ministries of finance, national planning, budget departments, debt management, and income-generating agencies, including tax and customs administrations.

The training modules will include: macroeconomics and planning, forecasting and fiscal policy modelling, prudential budgeting, and managing expenditure, mobilization of domestic and external revenue, debt management and transparency, public-private partnerships in public financial management, strengthening control and accountability systems, and combating corruption and financial flows illicit.