IBI to Conduct Risk Assessment of Honduran Social Investment Fund
IBI is pleased to announce its latest project, a risk assessment of the Honduras Social Investment Fund (Fondo Hondureño de Inversión Social, or FHIS) under the USAID Public Financial Management Risk Assessment Framework (PFMRAF).
The FHIS has been operating since 1990 as one of the main implementing agencies of USAID-funded projects in Honduras and has great potential to succeed in its mission of improving the quality of life of the most vulnerable communities in Honduras by executing projects to promote community development. USAID recognizes how much of a catalyst for change the FHIS can become, and has requested this assessment to better understand the organization’s ability to manage funds in order to effectively execute these projects.
The assessment will provide USAID with an understanding of whether the accounting, budgeting, financial management, procurement, programmatic and technical management capacity, and internal control systems are effective and sustainable through the activity’s implementation, in compliance with both USAID and Government of Honduras rules and regulations. This is a stage two assessment of the FHIS according to the Risk Assessment Framework.
Such assessments provide assurance to USAID, among other donors, that host country institutions are capable of managing international donor funds, and are eligible for direct Government-to-Government (G2G) funding mechanisms.