46497-001: Economic and Financial Reform Program | Asian Development Bank

Solomon Islands: Economic and Financial Reform Program

Sovereign (Public) Project | 46497-001 Status: Closed

ADB is helping Solomon Islands to improve the delivery of public investment and basic social services. The program will assist in implementing policy reforms that strengthen the government’s fiscal position, improve the business environment, and broaden access to education and health services. The reforms are based on the country’s long-term National Development Strategy, 2011-2020.

Project Details

Project Officer
Everett, Hayden B. Pacific Department Request for information
  • Solomon Islands
  • Grant
  • Public sector management
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
concessional ordinary capital resources lending / Asian Development Fund US$ 5.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Private sector development
Sector / Subsector

Public sector management / Public expenditure and fiscal management - Social protection initiatives

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 Nation-wide
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 Everett, Hayden B.
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Liaison and Coordination Office in Sydney, Australia
Executing Agencies
Ministry of Finance and Treasury
P.O. Box 26
Honiara, Solomon Islands
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

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%

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.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

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

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

Title Document Type Document Date
Solomon Islands: Economic and Financial Reform Program Validations of Project Completion Reports Sep 2015

Related Publications

None currently available.

The Public Communications Policy (PCP) 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.

Requests for information may also be directed to the InfoUnit.


No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.