»PEMPAL Initiative« (Public Expenditure Management – Peer Assisted Learning) means the collaborative, peer improvement effort undertaken by professionals in countries in Europe and Central Asia region. 

PEMPAL consists of:
1.       Communities of Practice (COP), for budget (BCOP), internal audit (IACOP) and treasury (TCOP): COP is a learning partnership among public financial management professionals that functions as an integral part of the PEM PAL initiative. Its main objective is to promote efficient, effective and transparent management of public finances.  
2.       Executive Committee (also called Leadership group) is the governing body of each Community of Practice. The Chair of the Executive Committee is the member who received the highest vote at the Community of Practice elections. 
3.       Sponsor means any public organization which provides in-kind or financial contribution to PEMPAL activities. Examples include the World Bank, the Swiss State Secretariat for Economic Affairs (SECO), Russian Ministry of Finance, OECD/SIGMA, etc.
4.       Steering Committee consists of the representatives of sponsors and COPs. The PFM Advisor and the Secretariat are permanent observers of the Steering Committee. The Steering Committee Chair is a member of the Steering Committee who received the highest vote at the annual Steering Committee election. 
5.       Task Team Leader (TTL) is a representative of the World Bank responsible for oversight of the World Bank administered funds.
6.       PFM Advisor (formerly Community Facilitator) is a PEM PAL employee, appointed by the World Bank, responsible for supporting and advising COPs Executive Committees, assisting COPs with the learning agenda, identifying vision and strategy of the development of COPs and facilitating (and coordinating) the work of the COPs.