The Joint Venture notes the importance of pro-active measures by the development community to strengthen the capacity of developing countries to manage public financial management, and will examine ways in which it might more effectively support partner country efforts in this regard.

In this connection the Joint Venture provides a platform to discuss the results and proposals emerging from studies and initiatives undertaken by other organisations such as the MDB Financial Management Harmonisation working group, the Strategic Partnership for Africa (SPA), Public Espenditure and Financial Accountability programme (PEFA), the OECD network of Budget Officials and the WP-EFF Task Team on Harmonisation and Alignment.

In pursuing its mandate, the Joint Venture has identified the following 5 main tasks :

Task A: Indicators of Harmonisation
Task B: Performance in Public Financial Management
Task C: Predictability of Aid Flows
Task D: Budget Support
Task E: Accounting Standards

It has been agreed that the Joint Venture will interact with partner countries throughout the stages of its work in various ways as deemed efficient and effective.