Micronesia, March 5 -- The World Bank approved its support to a transformative initiative led by the government of the Federated States of Micronesia (FSM) to strengthen the country's public financial management systems and practices. Through the US$13 million FSM Strengthening Public Financial Management II project, the World Bank assists FSM in its efforts to spend public resources more effectively, ultimately enhancing service delivery to communities across the nation and increasing the transparency of public finances.The initiative will expand FSM's fiscal management information systems, allowing government agencies to allocate, spend, and track resources more efficiently. It will also enhance procurement processes and establish an inte...