The proposed TA will incorporate two fundamental changes, namely, on the geographical coverage of participating countries and the focus of the training program to address the issues above. First, the scope of assistance will be expanded beyond ASEAN+3 and South Asian countries. Given the expanding scope of dialogue and coordination among institutions across the region, the TA will include selected member countries from Central and West Asia and, if required, Pacific Asian countries in the training program in an attempt to help improve economic interdependence and financial cooperation in the region. Second, the TA will update and fine-tune the program in response to constant shifts in the economic surveillance landscape on both national and regional levels.
|Project Name||Technical Training and Capacity Building for Selected Asian Countries on Regional Economic and Financial Monitoring (Phase 2)|
|Type or Modality of Assistance||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
|Sector / Subsector||
Public sector management / Economic affairs management
|Gender Equity and Mainstreaming|
|Responsible ADB Department||Economic Research and Regional Cooperation Department|
|Responsible ADB Division||ERMR|
|Responsible ADB Officer||Lee, Minsoo|
|Objectives and Scope||The proposed TA will incorporate two fundamental changes, namely, on the geographical coverage of participating countries and the focus of the training program to address the issues above. First, the scope of assistance will be expanded beyond ASEAN+3 and South Asian countries. Given the expanding scope of dialogue and coordination among institutions across the region, the TA will include selected member countries from Central and West Asia and, if required, Pacific Asian countries in the training program in an attempt to help improve economic interdependence and financial cooperation in the region. Second, the TA will update and fine-tune the program in response to constant shifts in the economic surveillance landscape on both national and regional levels. In the past, the REFM training program has been mainly focusing its discussions on the technical knowledge of macroeconomic analysis and macroprudential regulation, without providing sufficient discussion on the systematic Asia-wide development and policy issues. The said discussion is very important for the future policy makers in the region as it will provide them enough development policy background, cast in a global context. Against this backdrop, along with a set of technical presentations on surveillance related topics, such as financial supervision and regulation, macroprudential framework, crisis management and public debt management, participants will be exposed to Asian-wide development policy issues ranging from Asian economic development to integration and economic governance, regional and global, in a systematic way. To do so, the training course will increase the use of ADB staff and experts, relying less on outside speakers. The TA's main objective is to promote the surveillance expertise of officials from finance ministries and central banks of Asian countries in economic and financial surveillance and macro-economic management. Apart from that, the program is expected to contribute in the region's poverty alleviation efforts by promoting macro-economic policies (such as controlling inflation) that will reduce the vulnerability of regional economies to changes in external economic environment. The TA will strengthen collaboration with ASEAN+3 Macroeconomic Research Office (AMRO). An international conference will be organized to explore ways to further enhance the surveillance capacity of the member countries as well as evaluate the best practices approach in the Asian countries. ADB is uniquely positioned to assist Asian countries in developing its regional economic surveillance initiative through the proposed training program. ADB has accumulated extensive experience in an area that its charter expressly mandates - the promotion of regional cooperation. ADB has also worked widely with its developing member countries (DMCs) to promote structural reform of their financial sectors, and is continuing to build expertise in this area. In a context where change and reform at the global, regional, and national levels are needed, regional development organization, such as ADB, have an important role to play in complementing the resources of IMF and the World Bank. ADB's technical assistance resources are a particularly effective modality for capacity building and institutional strengthening that are essential for a credible surveillance process, as well as meeting the broader challenge of building more robust financial and economic system. Lastly, apart from the commitment made by the PRC and Korea to co-host and provide counterpart funding to the training course, the TA will use (i) Regional Cooperation and Integration Fund and (ii) People's Republic of China Regional Cooperation and Poverty Reduction Fund. In addition, the TA will continue to pursue partnerships with regional economies to support the training course in order to cover more participants to benefit from the training course and to ensure its long-term financial sustainability.|
|Linkage to Country/Regional Strategy|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||23 Oct 2012|
|Credit Committee Meeting||-|
|Approval||16 Aug 2013|
|Last PDS Update||06 Mar 2013|
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|
|Technical Training and Capacity Building for Selected Asian Countries on Regional Economic and Financial Monitoring (Phase 2): Technical Assistance Completion Report||TA Completion Reports||May 2016|
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