PUBLIC INVESTMENT MANAGEMENT

The Government of Kenya has instituted a framework of public investment management (PIM) to improve the delivery and outcomes of public investments in the country. Public investment management is generally used as a best practice for fostering fiscal sustainability, allocative and operational efficiency in public financial management (PFM). The aim is to ensure effective management of the entire project cycle; from project identification and conceptual planning, prefeasibility and feasibility, selection for budgeting, implementation, monitoring, evaluation and reporting, closure, sustainability to ex-post evaluation. Public investment management reinforces the principles and framework of public finance on openness, accountability and equity as espoused in the Constitution of Kenya. The State Department for Planning is mandated with the public investment policy and oversight in the country, vide the Executive Order No. 2 of 2020 (May Revision).