The Joint Venture on Public Financial Management builds on the recognised importance of pro-active measures taken by the development community to strengthen the capacity of developing countries to manage public financial management, and the need to examine ways in which it might more effectively support partner country efforts in this regard.

The Joint Venture provides a platform to discuss the results and proposals emerging from studies and initiatives undertaken by other organisations such as the Strategic Partnership for Africa (SPA), Public Expenditure and Financial Accountability programme (PEFA), the Collaborative Africa Budget Reform Initiative (CABRI), and the OECD network of Budget Officials.

In pursuing its mandate, the Joint Venture has identified the following 5 main tasks. JV-PFM Work Programme.

- Monitoring adoption of harmonised frameworks
- Good practice in supporting PFM reforms
- Sharing knowledge on training in the area of PFM
- Guidance on monitoring the Paris Indicators
- Accounting standards on external assistance

The Joint Venture is open to Members of the OECD-DAC Working Party on Aid Effectiveness (including both members of the DAC, multilateral organizations, and partner countries) who have relevant expertise in the area of PFM.