|Project Name||Pacific Financial Technical Assistance Centre 2011-2014|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
|Sector / Subsector||
Finance - Banking systems and nonbank financial institutions - Finance sector development
Public sector management - Economic affairs management - Public administration - Public expenditure and fiscal management
|Gender Equity and Mainstreaming|
|Project Rationale and Linkage to Country/Regional Strategy|
|Description of Outcome|
|Progress Toward Outcome||Strengthened institutional and human resource capacities for economic and financial management are evident in gradually increasing ADB Country Performance Assessment (CPA) scores from 2011- 2015, in aggregate as well as across almost all individual Pacific countries in areas relevant to PFTAC assistance (i.e. CPA scores for macroeconomic management, fiscal policy, debt policy, financial sector, quality of budgetary and financial management, and efficiency of revenue mobilization). However, the smallness of public administrations in the Pacific, frequently affected by staff turnover and out-migration that leads to volatile capacity, continues to undermine sustainable gains in capacity and requires long-term capacity development and supplementation support.|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)||Countries' demand for PFTAC technical advisory services and capacity development assistance continues to be high. In the first quarter of PFTAC's financial year 2017 (May to July 2017), PFTAC carried out 36 capacity development missions, including 28 country missions and 8 regional workshops and seminars, with 393 total mission days by its long and short-term advisors across PFTAC's five core areas. Public financial management support accounted for more than a third (37%) of the total support (in mission days), followed by revenue advisory (24%), macroeconomic advisory (17%), financial supervision (11%), and statistics support (11%). Regular progress reports are available on www.pftac.org.|
Summary of Environmental and Social Aspects
|Stakeholder Communication, Participation, and Consultation|
|During Project Design||Since 1994, PFTAC is providing assistance rapidly and flexibly in response to country requests. PFTAC builds upon IMF''s surveillance and technical expertise and works closely with other development partners. Its steering committee consists of finance ministers and governors of recipient countries as well as contributing development partners, all of which are actively involved in the design and strategic direction of the work program and priorities. PFTAC further builds upon strong relationship with existing regional frameworks. This set-up forms the basis of PFTAC's current fourth funding cycle, which spans five financial years from 2011 to 2016. PFTAC Phase IV will end on 31 October 2016 and Phase V will start on 1 November 2016.|
|During Project Implementation||
Monitoring of the TA will draw on the findings of assessments by the IMF. Quarterly reports are being prepared by the PFTAC coordinator and distributed to all PFTAC steering committee members, including finance ministers and central bank governors of recipient countries as well as contributing development partners detailing progress against the agreed results framework. Strategic and operational issues are monitored at the annual steering committee meetings with participation from all relevant stakeholders. PFTAC also maintains its own website providing regular updates against activity plans and country strategies. Lessons and good practices will be disseminated throughout the duration of the TA.
PFTAC support is provided on request from recipient countries to ensure relevance to local needs. At the country-level, regular consultation with other development partners, for example at donor fora or through joint policy reform processes, aims at coherent delivery of technical assistance.
|Consulting Services||IMF is responsible for PFTAC's managerial, technical, and administrative arrangements along with the relevance and quality of PFTAC assistance. IMF (i) assigns the coordinator of the center, (ii) selects the resident advisors from their professional staff, (iii) hires short-term experts using IMF procedures and draws on experts from its approved rosters, (iv) provides supervision and support services, (v) provides administrative support, and (vi) manages the cost-sharing contributions of the development partners.PFTAC's resident advisors and short-term experts will be recruited and supervised by the IMF in accordance with its standard practices. IMF selection procedures are consistent with ADB Guidelines on the Use of Consultants (2010, as amended from time to time).|
|Responsible ADB Officer||Wolff, Johannes Norman|
|Responsible ADB Department||Pacific Department|
|Responsible ADB Division||Urban, Social Development & Public Management Division, PARD|
International Monetary Fund
700 19th Street N.W.
Washington D.C. 20431 U.S.A.
|Last Review Mission||-|
|Last PDS Update||29 Sep 2016|
|Approval||Signing Date||Effectivity Date||Closing|
|12 Jul 2011||08 Aug 2011||08 Aug 2011||31 Aug 2014||31 Aug 2016||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|1,000,000.00||0.00||0.00||0.00||0.00||0.00||1,000,000.00||12 Jul 2011||1,000,000.00|
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|
|Pacific Financial Technical Assistance Centre (2011-2014)||Technical Assistance Reports||Jun 2011|
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.
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Evaluation Documents See also: Independent Evaluation
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