Mongolia: Macroeconomic Advisory Support

Sovereign Project | 50094-001 Status: Active

Summary

Mongolia has encountered challenges arising from faltering foreign direct investments, dampening global commodity prices, and weaker external demands. A sharp drop in exports and a protracted plunge in foreign direct investments have inflated pressures on the balance of payments and government finance. The authorities have initiated crisis adjustments in August 2016. The government set up a task force to develop an Economic Stabilization Plan (ESP).

Latest Project Documents

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Procurement Documents

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Project Name Macroeconomic Advisory Support
Project Number 50094-001
Country Mongolia
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9261-MON: Macroeconomic Advisory Support
Technical Assistance Special Fund US$ 1.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Knowledge solutions
Sector / Subsector

Public sector management - Economic affairs management

Gender Equity and Mainstreaming No gender elements
Description

Mongolia has encountered challenges arising from faltering foreign direct investments, dampening global commodity prices, and weaker external demands. A sharp drop in exports and a protracted plunge in foreign direct investments have inflated pressures on the balance of payments and government finance. The authorities have initiated crisis adjustments in August 2016. The government set up a task force to develop an Economic Stabilization Plan (ESP).

While the plan is under process for Parliament approval, the government has already announced fiscal consolidation measures, including revenue mobilization through several tax reforms, discontinuation of several quasi fiscal operations, civil servants' salary cuts, and the temporary suspension of new contracts and procurements. On the monetary stance, the monetary authority raised the policy rate to mop up liquidity to protect the currency from potential speculative attacks. The proposed technical assistance aims to provide a timely advisory support for the preparation and implementation of the ESP plan in a flexible manner which allows the government and ADB to respond to merging reform issues in the next few years.

Project Rationale and Linkage to Country/Regional Strategy The proposed technical assistance will take the facility type modality, which allows ADB to respond to the government''s emerging needs in the implementation of the ESP through frequent consultations and the use of flexible mechanism to govern proposal submission and consideration.
Impact Economic policy formulation enhanced and effective implementation of the Emergency Stabilization Plan accomplished.

Project Outcome

Description of Outcome Core policies supported under the TA adopted and implemented
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

1. Core policy issues assessed and recommendations made

2. Capacity development training opportunities for work level staff provided

Status of Implementation Progress (Outputs, Activities, and Issues) An inception mission was fielded on January 2017. Most of the previously identified subprojects were confirmed and still in demand. Particularly, providing advisory support for improving the quality of budgeting technique and staff capacity, and improving debt management capacity.
Geographical Location

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

The TA will engage experts with inputs equivalent to 20 person-months of international consultants, 20 person-months of national consultants, and 15 resource persons for workshops and seminars.

Consultants will be recruited individually following ADB's Guidelines on Use of Consultants.

Responsible Staff

Responsible ADB Officer Magee, Declan F.
Responsible ADB Department East Asia Department
Responsible ADB Division Mongolia Resident Mission
Executing Agencies
Ministry of Finance
Government Building-2
Negdsen Undestnii gudamj-5/1
Ulaanbaatar-210646, Mongolia

Timetable

Concept Clearance 11 Nov 2016
Fact Finding 28 Sep 2016 to 07 Oct 2016
MRM -
Approval 08 Dec 2016
Last Review Mission -
Last PDS Update 27 Mar 2017

TA 9261-MON

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
08 Dec 2016 30 Dec 2016 30 Dec 2016 31 Dec 2018 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,000,000.00 0.00 0.00 0.00 0.00 0.00 1,000,000.00 08 Dec 2016 1,420.00
Title Document Type Document Date
Macroeconomic Advisory Support: Technical Assistance Report Technical Assistance Reports Dec 2016

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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Related Publications

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