Tuvalu: Improved Financial Management Program

Sovereign Project | 41180-022 Status:

Summary

ADB is helping Tuvalu strengthen its public financial management and governance systems. The project will assist the government in enhancing public debt management capacity, strengthening oversight of public enterprises, and improving public enterprise performance.

Latest Project Documents

Consulting Notices See also: CMS

No notices are currently available for this project.

Procurement Notices See also: Operational Procurement

No notices are currently available for this project.

Procurement Documents

None currently available.


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.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

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.

 
Project Name Improved Financial Management Program
Project Number 41180-022
Country Tuvalu
Project Status
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 0139-TUV: Improved Financial Management Program
Asian Development Fund US$ 3.24 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Public sector management - Public expenditure and fiscal management

Gender Equity and Mainstreaming No gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome The intended impact of the program will be sustained economic growth and fiscal stability as prioritized in Tuvalu's national plan objectives. Indicators of success will be the government's performance benchmark indicators.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

28/03/2011: Awaiting Government's response on

28/03/2011: Awaiting Government's response on the RRP (Conclusion of the 2nd tranche condition requirement).

Geographical Location Tuvalu

Summary of Environmental and Social Aspects

Environmental Aspects There is no environmental impact of this Program Grant. Category C.
Involuntary Resettlement n/a.
Indigenous Peoples n/a.
Stakeholder Communication, Participation, and Consultation
During Project Design

The program grant and associated TA have the potential to harmonize several activities toward the meeting of the PBIs and the intent of the CPS through complementary focus on fiscal stability and economic growth through: improved fiscal management; enhanced enterprise performance; enhanced private sector potential through increased lending potential by the NBT; and, the identification of business opportunities in activities currently undertaken by Government.

The Program will provide for the development of a strengthened governance framework for the oversight of public enterprises in Tuvalu, improved capacity for oversight on the part of the Government, the capacity to respond positively to such oversight on the part of public corporations, strengthened capacity to manage debt, and a reduction in government debt to the National Bank of Tuvalu (NBT).

During Project Implementation

MFEP will coordinate policy, legal, and regulatory actions and ensure that the reforms as agreed to by the Government and ADB are duly carried out on time. A program steering committee, chaired by the secretary of MFEP and including representatives of the Office of the Attorney General and MFEP's budget and public enterprise oversight areas, will be established to monitor and coordinate the Program and support technical assistance from ADB and other agencies.

The private sector and civil society were consulted during the conceptualization of the Program Grant and indicated support for the broad policy changes to be initiated through the proposed assistance package. As changes occur: in Enterprise performance; in access to lending opportunities and in identification and possibility tendering of Government business opportunities, the private and civil sectors will be continuously involved. The Grant and associated TA lend themselves to further harmonization of Development Partner activities.

Business Opportunities

Consulting Services Not required.
Procurement The proceeds of the Program Grant will be disbursed against a broad range of imports, subject to a negative list. Eligible imports incurred up to 180 days prior to grant effectiveness may be reimbursed from the proceeds of the grant.

Responsible Staff

Responsible ADB Officer Malie Lototele
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Subregional Office in Suva, Fiji
Executing Agencies
Ministry of Finance and Economic Development
Mr. Minute Taupo
mtaupo@gov.tv
Private Mail Bag, Funafuti, Tuvalu

Timetable

Concept Clearance -
Fact Finding -
MRM -
Approval -
Last Review Mission -
PDS Creation Date 05 May 2008
Last PDS Update 28 Mar 2011

Grant 0139-TUV

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
16 Dec 2008 03 Feb 2009 14 May 2009 30 Sep 2010 30 Sep 2011 18 Aug 2011
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 3.24 Cumulative Contract Awards
ADB 3.24 16 Dec 2008 3.24 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 16 Dec 2008 3.24 0.00 100%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating Satisfactory - - - - Satisfactory
Title Document Type Document Date
Improved Financial Management Program Project/Program Completion Reports Oct 2012
Improved Financial Management Program Progress Reports on Tranche Releases Jul 2011
Grant Agreement for Improved Financial Management Program between Tuvalu and Asian Development Bank dated 3 February 2009 Grant Agreement Feb 2009
Improved Financial Management Program Reports and Recommendations of the President Nov 2008

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

Title Document Type Document Date
Tuvalu: Improved Financial Management Program Validations of Project Completion Reports Nov 2014

Related Publications

None currently available.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.