Sri Lanka : Fiscal Management Reform Program (Program Loan)
The Fiscal Management Sector Development Program (FMSDP) supports the strengthening of the public finances by improving public resource and expenditure management systems, promoting fiscal discipline and supporting fiscal decentralization. The FMSDP will help create an enabling environment to foster mobilization of tax revenues, improve effectiveness of public expenditures and ultimately place public finances on a sustainable path.
Project Details
-
Project Officer
Shah, Syed Ali-Mumtaz H.
South Asia Department
Request for information -
Country/Economy
Sri Lanka -
Modality
-
Sector
- Public sector management
Related Projects
| Project Name | Fiscal Management Reform Program (Program Loan) | ||||||||||||
| Project Number | 36168-013 | ||||||||||||
| Country / Economy | Sri Lanka |
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| Project Status | Closed | ||||||||||||
| Project Type / Modality of Assistance | Loan |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Governance and capacity development |
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| Sector / Subsector | Public sector management / Public expenditure and fiscal management |
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| Gender | No gender elements | ||||||||||||
| Description | The Fiscal Management Sector Development Program (FMSDP) supports the strengthening of the public finances by improving public resource and expenditure management systems, promoting fiscal discipline and supporting fiscal decentralization. The FMSDP will help create an enabling environment to foster mobilization of tax revenues, improve effectiveness of public expenditures and ultimately place public finances on a sustainable path. | ||||||||||||
| Project Rationale and Linkage to Country/Regional Strategy | tbd | ||||||||||||
| Impact | Strengthened public finances | ||||||||||||
| Project Outcome | |
|---|---|
| Description of Outcome | Necessary conditions for improved public finances in place and functioning as intended |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Creation of a modernized revenue administration Better tax collection/compliance and strengthened systems A streamlined budget procedure Management of off-budget and expenditure borrowings strengthened Improved budget estimates Fiscal decentralization process strengthened |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Business Opportunities | |
|---|---|
| Consulting Services | Not required. |
| Procurement | The loan proceeds will be used to finance the full foreign exchange costs of items produced and procured in ADB member countries, other than items specified in the negative list of ineligible items and imports financed by other multilateral and bilateral official sources. |
| Responsible ADB Officer | Shah, Syed Ali-Mumtaz H. |
| Responsible ADB Department | South Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SARD |
| Executing Agencies |
Ministry of Finance and Planning [email protected] P.O. Box 277 The Secretariat Building, Colombo 1 Sri Lanka Ministry of Finance and Planning P.O. Box 277 The Secretariat Building, Colombo 1 Sri Lanka |
| Timetable | |
|---|---|
| Concept Clearance | 02 Mar 2003 |
| Fact Finding | 18 Aug 2003 to 26 Aug 2003 |
| MRM | 13 Oct 2003 |
| Approval | 14 Dec 2004 |
| Last Review Mission | - |
| PDS Creation Date | 01 Feb 2007 |
| Last PDS Update | 24 Jul 2008 |
Loan 2130-SRI
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 14 Dec 2004 | 20 Dec 2004 | 21 Dec 2004 | 30 Jun 2008 | - | 11 Jun 2008 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 45.00 | Cumulative Contract Awards | |||
| ADB | 45.00 | 17 Jun 2022 | 45.00 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 17 Jun 2022 | 45.00 | 0.00 | 100% |
| Status of Covenants | ||||||
|---|---|---|---|---|---|---|
| Category | Sector | Safeguards | Social | Financial | Economic | Others |
| Rating | - | Satisfactory | - | - | - | - |
Loan 2131-SRI
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 14 Dec 2004 | 20 Dec 2004 | 21 Dec 2004 | 30 Jun 2008 | 31 Dec 2010 | 09 Oct 2014 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 10.00 | Cumulative Contract Awards | |||
| ADB | 10.00 | 17 Jun 2022 | 7.29 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 17 Jun 2022 | 7.29 | 0.00 | 100% |
| Status of Covenants | ||||||
|---|---|---|---|---|---|---|
| Category | Sector | Safeguards | Social | Financial | Economic | Others |
| Rating | - | Satisfactory | - | - | - | - |
Loan 2132-SRI
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 14 Dec 2004 | 20 Dec 2004 | 21 Dec 2004 | 30 Jun 2008 | 31 Dec 2011 | 27 Dec 2013 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 15.00 | Cumulative Contract Awards | |||
| ADB | 15.00 | 17 Jun 2022 | 11.29 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 17 Jun 2022 | 11.29 | 0.00 | 100% |
| Status of Covenants | ||||||
|---|---|---|---|---|---|---|
| Category | Sector | Safeguards | Social | Financial | Economic | Others |
| Rating | - | Satisfactory | - | - | - | - |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| Fiscal Management Reform Program | Project/Program Completion Reports | Nov 2012 |
| Fiscal Management Reform Program | Progress Reports on Tranche Releases | May 2006 |
| Fiscal Management Reform Program | Reports and Recommendations of the President | Nov 2004 |
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
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
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