Section 73, The Public Financial Management Act, 2016

(1) Any current or capital expenditure of a budgetaryagency to be financed by loans or grants from a foreign government, international organization, or other donor may be committed and paid only when it is authorized by an appropriation under an Appropriation Act. (2) The head of a budgetary agency shall include in a budget proposal mentioned in subsection (1) of section 32 the results of costing and appraisal of all projects, expenditures for which are to be– (a) financed by loans or grants from a foreign government, international organization, or other donor; and (b) wholly or partly paid from the State budget to which the budget proposal relates. (3) The Minister shall issue regulations to prescribe any requirements and controls for the management of bank accounts of budgetary agencies, sub-vented agencies, and other entities in the central government, into which public money received through loans or grants from a foreign government, international organization, or other donor is deposited. Expenditure financed by donors’ loans and grants. No. 13 Public Financial Management Act 2016 No. 13 Public Financial Management Act 201660 61 Authority to receive grants. Internal audit