Economic Recovery Support Program - Subprogram 2

Date: October 2012
Document Type: Reports and Recommendations of the President
Project Number: 42503-023

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The report and recommendation of the President for the proposed policy-based loan to the Cook Islands for subprogram 2 of the Economic Recovery Support Program (ERSP) describes the project terms and conditions for the approval of the Board of Directors of ADB.

Subprogram 2 will build on subprogram 1, which facilitated infrastructure investment in a period of constrained revenue, leveraged improvement in priority-setting processes for infrastructure investments, strengthened aspects of public financial management, and raised the policy profile of vulnerability issues. Subprogram 2 will further support government budget priorities, and will promote public sector reforms and measures that will help protect the vulnerable and safeguard the fiscal position of the Cook Islands to promote higher and more inclusive economic growth. Subprogram 2 was jointly prepared by representatives from the Government of the Cook Islands and ADB.

This document is being disclosed to the public prior to Board consideration in accordance with ADB’s Public Communications Policy (2011). Subject to any revisions required following Board consideration, this document is deemed final.