Solomon Islands: Economic and Financial Reform Program

Sovereign Project | 46497-001

Summary

The proposed program is a single-tranche policy-based grant. The program will support Solomon Islands' transition from post-conflict recovery to sustainable development based on the country's first long-term development strategy, i.e., the National Development Strategy 2011 2020. The program continues to support efforts by the Government of the Solomon Islands to reform public sector management in coordination with other development partners. It aims to strengthen the government's implementation of policy reforms that ensure the adequate delivery of public investment and services.

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Project Name Economic and Financial Reform Program
Project Number 46497-001
Country Solomon Islands
Project Status Closed
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 0339-SOL: Economic and Financial Reform Program
Asian Development Fund US$ 5.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector Health - Health care finance
Public sector management - Economic affairs management
Gender Equity and Mainstreaming Effective gender mainstreaming
Description The proposed program is a single-tranche policy-based grant. The program will support Solomon Islands' transition from post-conflict recovery to sustainable development based on the country's first long-term development strategy, i.e., the National Development Strategy 2011 2020. The program continues to support efforts by the Government of the Solomon Islands to reform public sector management in coordination with other development partners. It aims to strengthen the government's implementation of policy reforms that ensure the adequate delivery of public investment and services.
Project Rationale and Linkage to Country/Regional Strategy The Solomon Islands is among the Pacific economies most affected by the global economic crisis. In 2009, the GDP contracted by 4.7%. In response, the government and development partners formed the core economic working group in March 2009 to better meet the economic and fiscal challenges facing the country during the crisis. The partnership has developed a comprehensive economic and financial reform program to stabilize the country's fiscal position, strengthen public finance management, promote priority structural reforms, and prioritize the needs of the most vulnerable members of the community.
Impact The Government of Solomon Islands delivering improved public investment and services.
Project Outcome
Description of Outcome The government maintaining a strong fiscal position while delivering expanded and more equitable social services.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Better public financial management

Greater economic efficiency for business enabling environment

Broader access to social services

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
During Project Implementation
Responsible ADB Officer Hayden Everett
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Liaison and Coordination Office in Sydney, Australia
Executing Agencies
Ministry of Finance and TreasuryP.O. Box 26
Honiara, Solomon Islands
Timetable
Concept Clearance 04 Dec 2012
Fact Finding 26 Nov 2012 to 07 Dec 2012
MRM 31 Jan 2013
Approval 21 Mar 2013
Last Review Mission -
Last PDS Update 22 Aug 2013

Grant 0339-SOL

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Mar 2013 26 Mar 2013 27 Mar 2013 31 Dec 2013 - 16 Jan 2014
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 5.00 Cumulative Contract Awards
ADB 5.00 21 Mar 2013 5.00 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 21 Mar 2013 5.00 0.00 100%
Title Document Type Document Date
Economic and Financial Reform Program: Completion Report Project/Program Completion Reports Apr 2015
Grant Agreement (Special Operations) for Economic and Financial Reform Program Grant Agreement Mar 2013
Economic and Financial Reform Program Reports and Recommendations of the President Feb 2013
Economic and Financial Reform Program Concept Papers Dec 2012

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


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