Tuvalu: Strengthened Public Financial Management Program

Sovereign Project | 45395-001 Status: Closed

Summary

ADB is helping Tuvalu strengthen its capacity to manage revenue and public spending. The project will help the government improve its policies and processes for setting multi-year budget targets, boosting revenues and strengthening budgeting, procurement, reporting, debt management, and spending controls. It will also support the government’s efforts to advance its public enterprise reform plans.

Latest Project Documents


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Project Name Strengthened Public Financial Management Program
Project Number 45395-001
Country Tuvalu
Project Status Closed
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 0318-TUV: Strengthened Public Financial Management Program
Asian Development Fund US$ 2.35 million
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

Public sector management - Economic affairs 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
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location

Safeguard Categories

Environment C
Involuntary Resettlement C
Indigenous Peoples C

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design

Implementation of actions achieved under the IFMP has either been completed, or is close to completion. The two actions that remain outstanding are the operationalization of Tuvalu's Debt Risk and Mitigation Policy, and the appointment of a Banking Commissioner under the 2011 Banking Commission Act. Work on the former is on-track for completion by late 2012 with AusAID TA. The appointment of a Banking Commissioner has been delayed due to the tight fiscal situation faced by the government but is expected to be addressed in the 2013 budget via a levy on NBT, the Development Bank of Tuvalu and Tuvalu Provident Fund, which will be announced in late November 2012.

Lessons from the IFMP include: the need to build stronger political consensus to undertake reforms through support for a government-led dialogue on budget support and concerted outreach to Cabinet, Parliamentarians, and the community; to improve development partner coordination through joint dialogue and joint missions, as well as improved coordination of technical assistance; and to adopt a medium term perspective to restoring fiscal sustainability in recognition of the size of the challenges that micro-states like Tuvalu face.

During Project Implementation The Ministry of Finance and Economic Development (MFED) will be the executing agency (EA) and will oversee and coordinate the timely implementation of agreed policy, legal, and regulatory actions. The implementing agencies will be MFED, the Office of the Prime Minister, and the Ministry of Foreign Affairs (which oversees the Vaiaku Lagi Hotel). Resources from new and ongoing TA will support the government to fulfill program conditionalities. MFED will also be responsible for program administration, disbursements, and maintenance of all program records. ADB and other development partners through the joint policy matrix process, will work with the government to set up a high-level coordination and monitoring mechanism to monitor progress, oversee the implementation of the program, and guide and direct the activities of the EA.

Business Opportunities

Consulting Services Ministry of Finance and Economic Development
Procurement Ministry of Finance and Economic Development

Responsible Staff

Responsible ADB Officer Laisiasa Tora
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Subregional Office in Suva, Fiji
Executing Agencies
Ministry of Finance and Economic Development
Private Bag
Funafuti
Tuvalu

Timetable

Concept Clearance 16 May 2012
Fact Finding 29 May 2012 to 07 Jun 2012
MRM 10 Jul 2012
Approval -
Last Review Mission -
Last PDS Update 10 Jan 2013

Grant 0318-TUV

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
22 Nov 2012 17 Dec 2012 11 Feb 2013 31 Dec 2013 - 24 Jan 2014
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 2.35 Cumulative Contract Awards
ADB 2.35 22 Nov 2012 2.35 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 22 Nov 2012 2.35 0.00 100%

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: Strengthened Public Financial Management Program Validations of Project Completion Reports Oct 2015

Related Publications

None currently available.


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