Project Data Sheet

Project Data Sheets (PDS) contain summary information on the project or program: Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

PDS Creation Date
PDS Updated as of 06 Mar 2013

Project Name Technical Training and Capacity Building for Selected Asian Countries on Regional Economic and Financial Monitoring (Phase 2)
Country Regional
Project/Program Number 46939-012
Status Approved
Geographical Location Regional
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
Sector and/or Subsector Classification Not yet classified
/ For Classification
Strategic Agendas
Drivers of Change
Gender Mainstreaming Categories

Financing

Type/Modality of Assistance Approval Number Source of Funding Approved Amount (thousand)
Technical Assistance8433-0
Technical Assistance8433-0
TOTAL US$ 0

Summary of Environmental and Social Issues

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples

Stakeholder Communication, Participation and Consultation

During Project Design
During Project Implementation

Description

The proposed TA will incorporate two fundamental changes, namely, on the geographical coverage of participating countries and the focus of the training program to address the issues above. First, the scope of assistance will be expanded beyond ASEAN+3 and South Asian countries. Given the expanding scope of dialogue and coordination among institutions across the region, the TA will include selected member countries from Central and West Asia and, if required, Pacific Asian countries in the training program in an attempt to help improve economic interdependence and financial cooperation in the region. Second, the TA will update and fine-tune the program in response to constant shifts in the economic surveillance landscape on both national and regional levels. In the past, the REFM training program has been mainly focusing its discussions on the technical knowledge of macroeconomic analysis and macroprudential regulation, without providing sufficient discussion on the systematic Asia-wide development and policy issues. The said discussion is very important for the future policy makers in the region as it will provide them enough development policy background, cast in a global context. Against this backdrop, along with a set of technical presentations on surveillance related topics, such as financial supervision and regulation, macroprudential framework, crisis management and public debt management, participants will be exposed to Asian-wide development policy issues ranging from Asian economic development to integration and economic governance, regional and global, in a systematic way. To do so, the training course will increase the use of ADB staff and experts, relying less on outside speakers. The TA's main objective is to promote the surveillance expertise of officials from finance ministries and central banks of Asian countries in economic and financial surveillance and macro-economic management. Apart from that, the program is expected to contribute in the region's poverty alleviation efforts by promoting macro-economic policies (such as controlling inflation) that will reduce the vulnerability of regional economies to changes in external economic environment. The TA will strengthen collaboration with ASEAN+3 Macroeconomic Research Office (AMRO). An international conference will be organized to explore ways to further enhance the surveillance capacity of the member countries as well as evaluate the best practices approach in the Asian countries. ADB is uniquely positioned to assist Asian countries in developing its regional economic surveillance initiative through the proposed training program. ADB has accumulated extensive experience in an area that its charter expressly mandates - the promotion of regional cooperation. ADB has also worked widely with its developing member countries (DMCs) to promote structural reform of their financial sectors, and is continuing to build expertise in this area. In a context where change and reform at the global, regional, and national levels are needed, regional development organization, such as ADB, have an important role to play in complementing the resources of IMF and the World Bank. ADB's technical assistance resources are a particularly effective modality for capacity building and institutional strengthening that are essential for a credible surveillance process, as well as meeting the broader challenge of building more robust financial and economic system. Lastly, apart from the commitment made by the PRC and Korea to co-host and provide counterpart funding to the training course, the TA will use (i) Regional Cooperation and Integration Fund and (ii) People's Republic of China Regional Cooperation and Poverty Reduction Fund. In addition, the TA will continue to pursue partnerships with regional economies to support the training course in order to cover more participants to benefit from the training course and to ensure its long-term financial sustainability.

Project Rationale and Linkage to Country/Regional Strategy

Development Impact

The expected impact of the TA is to improve the macro-economic management of the participating DMCs, particularly in areas of regional economic and financial monitoring.

Project Outcome

Description of Outcome
REFM participants gained common shared principles and techniques on macro-economic analysis, surveillance and management. These techniques will include, among others, the Early Warning System models, methods of economic policy analysis, and international standards in areas such as crisis management, financial and macroprudential regulations. On the side, the training program will provide opportunity to establish an extensive alumni network of technical experts on macroprudential.
Progress Towards Outcome

Outputs and Implementation Progress

Description of Project Outputs
(i) About 140 mid-level staff from finance ministries and central banks of selected Asian countries trained through 4-5 batches of semi-annual training programs in REFM and (ii) International conference on economic and financial monitoring, and macro-economic policy formulation.
Status of Implementation Progress (Outputs, Activities, and Issues)
Status of Development Objectives
Material Changes

Business Opportunities

Date of First Listing 2013 Mar 06
Consulting Services
Macroeconomists (8~10 international consultants, 10-12 person-months); Financial Experts (4-5 international consultants, 6-7 person-months); Project Coordinator and Macroeconomist (1 national consultant, 12 person-months); Events Coordinator (1 national consultant, 12 person-months)
Procurement
Procurement and Consulting Notices
http://www.adb.org/projects/46939-012/business-opportunities

Timetable

Concept Clearance 23 Oct 2012
Fact-finding
Management Review Meeting
Approval 16 Aug 2013
Last Review Mission

Milestones

Approval No. Approval Signing Effectivity Closing
Original Revised Actual
Technical Assistance 8433 16 Aug 2013 16 Aug 2013 31 Dec 2015

Utilization

Date Approval Number ADB (US$ thousand) Others (US$ thousand) Net Percentage
Cumulative Contract Awards
Cumulative Disbursements

TA Amount (US$ thousand)

Approval Number Approved Amount Revised Amount Total Commitment Uncommitted Balance Total Disbursement Undisbursed Balance
Technical Assistance 8433 900 900 50 850 66 834

Contacts and Update Details

Responsible ADB Officer Hoe Yun Jeong (hyjeong@adb.org)
Responsible ADB Department Office of Regional Economic Integration
Responsible ADB Divisions Ofc. of Regional Economic Integration
Executing Agencies Asian Development Bank

Links

Project Website http://www.adb.org/projects/46939-012/main
List of Project Documents http://www.adb.org/projects/46939-012/documents