Regional: Pacific Financial Technical Assistance Centre 2011-2014

Sovereign Project | 44384-012 Status: Active

Summary

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Project Name Pacific Financial Technical Assistance Centre 2011-2014
Project Number 44384-012
Country Regional
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7832-REG: Pacific Financial Technical Assistance Centre 2011-2014
Technical Assistance Special Fund US$ 1.00 million
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Partnerships
Sector / Subsector

Finance - Banking systems and nonbank financial institutions - Finance sector development

Public sector management - Economic affairs management - Public administration - Public expenditure and fiscal management

Gender Equity and Mainstreaming
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome Strengthened institutional and human resource capacities for economic and financial management are evident in gradually increasing ADB Country Performance Assessment (CPA) scores from 2011- 2014, in aggregate as well as across almost all individual Pacific countries in areas relevant to PFTAC assistance (i.e. CPA scores for macroeconomic management, fiscal policy, debt policy, financial sector, quality of budgetary and financial management, and efficiency of revenue mobilization).
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues) Countries' demand for PFTAC technical advisory services and capacity development assistance continues to be high. In the financial year 2016 (May 2015 to April 2016), PFTAC is expected to carry out 150 TA missions, including workshops and meetings, for a total of 1670 mission days of its long and short-term advisors across PFTAC's five core areas. Public financial management support accounted for more than a quarter (28%) of the total support (in mission days), followed by revenue advisory (25%), financial supervision (22%), statistics support (14%), and macroeconomic advisory (9%). Regular progress reports are available on www.pftac.org.
Geographical Location

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design Since 1994, PFTAC is providing assistance rapidly and flexibly in response to country requests. PFTAC builds upon IMF''s surveillance and technical expertise and works closely with other development partners. Its steering committee consists of finance ministers and governors of recipient countries as well as contributing development partners, all of which are actively involved in the design and strategic direction of the work program and priorities. PFTAC further builds upon strong relationship with existing regional frameworks. This set-up forms the basis of PFTAC's current fourth funding cycle, which spans five financial years from 2011 to 2016.
During Project Implementation

Monitoring of the TA will draw on the findings of assessments by the IMF. Quarterly reports are being prepared by the PFTAC coordinator and distributed to all PFTAC steering committee members, including finance ministers and central bank governors of recipient countries as well as contributing development partners detailing progress against the agreed results framework. Strategic and operational issues are monitored at the annual steering committee meetings with participation from all relevant stakeholders. PFTAC also maintains its own website providing regular updates against activity plans and country strategies. Lessons and good practices will be disseminated throughout the duration of the TA.

PFTAC support is provided on request from recipient countries to ensure relevance to local needs. At the country-level, regular consultation with other development partners, for example at donor fora or through joint policy reform processes, aims at coherent delivery of technical assistance.

Business Opportunities

Consulting Services IMF is responsible for PFTAC's managerial, technical, and administrative arrangements along with the relevance and quality of PFTAC assistance. IMF (i) assigns the coordinator of the center, (ii) selects the resident advisors from their professional staff, (iii) hires short-term experts using IMF procedures and draws on experts from its approved rosters, (iv) provides supervision and support services, (v) provides administrative support, and (vi) manages the cost-sharing contributions of the development partners.PFTAC's resident advisors and short-term experts will be recruited and supervised by the IMF in accordance with its standard practices. IMF selection procedures are consistent with ADB Guidelines on the Use of Consultants (2010, as amended from time to time).

Responsible Staff

Responsible ADB Officer Johannes Wolff
Responsible ADB Department Pacific Department
Responsible ADB Division Urban, Social Development & Public Management Division, PARD
Executing Agencies
International Monetary Fund
700 19th Street N.W.
Washington D.C. 20431 U.S.A.

Timetable

Concept Clearance 04 Aug 2011
Fact Finding -
MRM -
Approval -
Last Review Mission -
Last PDS Update 29 Mar 2016

TA 7832-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
12 Jul 2011 08 Aug 2011 08 Aug 2011 31 Aug 2014 31 Aug 2016 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,000,000.00 0.00 0.00 0.00 0.00 0.00 1,000,000.00 12 Jul 2011 1,000,000.00
Title Document Type Document Date
Pacific Financial Technical Assistance Centre (2011-2014) Technical Assistance Reports Jun 2011

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