Restructuring Paper Disclosable - NI Public Financial Management Modernization Project - P111795

The development objective of the Public Financial Management Modernization Project for Nicaragua is to enhance the efficiency and transparency of the Recipient’s public expenditure management and strengthen the Recipient’s statistics management capacity. The restructuring will: (i) extend the additional financing (AF) closing date to December 31, 2018; and (ii) reallocate the proceeds from category 1 (goods, non-consulting services, consultants’ services, and training for parts 1, 2, 3, and 4 of the project) and category 3 (goods, non-consulting services, consultants’ services, and training for part 5 of the project) to category 2 (operating costs), in order to facilitate activities under component 4 (project management).