12.4.2 Financial management at regional level

The regional BoFEDs are responsible for managing government and CWA funds at regional level. They have a number of specific tasks, including opening regional, zonal and woreda bank accounts at the nearest area branch of the Commercial Bank of Ethiopia and transferring funds for OWNP implementation. (Note that the National Bank of Ethiopia is used for accounts at federal level and the Commercial Bank of Ethiopia at regional and lower levels.) They also provide technical support to the implementers to ensure that proper accounting systems are established and competent accounting staff employed. They are responsible for preparing and submitting regional financial reports to MoFED and to regional government.