Myanmar: Support for Myanmar's Reforms for Inclusive Growth

Sovereign Project | 46372-001

Summary

The policy-based loan will support Myanmar's re-engagement with global markets through key reform priorities aimed at generating broad-based, sustainable and inclusive economic growth. The reform priorities include transformational changes to macroeconomic policy institutions, first steps to enhance transparency and integrity in tax administration and public financial management (PFM) for better service delivery, business climate reforms, and trade liberalization. Reform priorities also include efforts to provide the foundation for promoting inclusive growth through human capital development and initiating market-based incentives for raising farm productivity and incomes.

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Project Name Support for Myanmar's Reforms for Inclusive Growth
Project Number 46372-001
Country Myanmar
Project Status Closed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 2984-MYA: Support for Myanmar's Reforms for Inclusive Growth
Asian Development Fund US$ 575.50 million
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

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

Gender Equity and Mainstreaming
Description The policy-based loan will support Myanmar's re-engagement with global markets through key reform priorities aimed at generating broad-based, sustainable and inclusive economic growth. The reform priorities include transformational changes to macroeconomic policy institutions, first steps to enhance transparency and integrity in tax administration and public financial management (PFM) for better service delivery, business climate reforms, and trade liberalization. Reform priorities also include efforts to provide the foundation for promoting inclusive growth through human capital development and initiating market-based incentives for raising farm productivity and incomes.
Project Rationale and Linkage to Country/Regional Strategy The government has made re-engagement with the global community a central tenet of its reform program. This re-engagement has come about in the context of economic reforms precipitated by historic political reforms including steps towards more democratic political institutions. Initiating a framework for a more permanent peace in subnational conflict regions is also central to the government's political and economic reforms.
Impact Improved inclusive growth
Project Outcome
Description of Outcome Strengthened policy frameworks in selected sectors (macro, trade, finance, investment, agriculture, education)
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

1. Fiscal sustainability and macro economic stability improved

2. Investment, trade and financial sector integration improved.

3. Rural development for inclusive growth stimulated

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 The design of the PBL and P3F reflect the unique features of Myanmar's re-engagement with ADB, Government of Japan (GOJ), IMF, World Bank and other major development partners in two respects. First, the proposed PBL, in addition to the GOJ policy loan and WB's development policy operation (DPO) support the government's re-engagement program after debt arrears have been cleared with development partners thereby allowing for full resumption of operations. Second, as expected in the early stages of re-engagement, the government's reform agenda is still crystallizing and the benefits are only likely to show up in the medium to long term.
During Project Implementation The policy-based loan covers policy reform accomplishments from August 2011 to December 2012. The P3F covers measures to be implemented from January 2013 to December 2014, which is aligned to the interim CPS period. MOFR will be the executing agency for the PBL and will be responsible for the overall coordination of the P3F and medium-term results framework. It has set up a PBL Steering Committee to oversee coordination and would meet on a quarterly basis.
Responsible ADB Officer Grant Hauber Jr.
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Ministry of Finance and RevenueSISIPYONE@GMAIL.COMBuilding No 26. Nay Pyi Taw
Republic of the Union of Myanmar
Timetable
Concept Clearance 16 Aug 2012
Fact Finding 10 Sep 2012 to 14 Sep 2012
MRM 05 Oct 2012
Approval 14 Jan 2013
Last Review Mission -
Last PDS Update 30 Sep 2013

Loan 2984-MYA

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
14 Jan 2013 14 Jan 2013 17 Jan 2013 31 Mar 2013 - 18 Jan 2013
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 575.50 Cumulative Contract Awards
ADB 575.50 14 Jan 2013 511.53 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 14 Jan 2013 511.53 0.00 100%

Safeguard Documents

See also: Safeguards

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Evaluation Documents

See also: Independent Evaluation

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