50094-001: Macroeconomic Advisory Support | Asian Development Bank

Mongolia: Macroeconomic Advisory Support

Sovereign (Public) Project | 50094-001 Status: Active

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).

Project Details

Project Officer
Magee, Declan F. East Asia Department Request for information
Country
  • Mongolia
Modality
  • Technical Assistance
Sector
  • Public sector management
 
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 Not yet due.
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)

Following three subprojects have been approved under the TA:

(i) Strengthening Public Investment Policy and Management;

(ii) The Taxation Legal Framework Reform Working Group; and

(iii) Developing an Open-Economy Bayesian DSGE model.

Recruitment of consultants and resource persons are ongoing.

Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation Consultations have been done with the relevant development partners, and public institutions.
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 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 22 Sep 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 21,421.53

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
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.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

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.

Tenders

Tender Title Type Status Posting Date Deadline
Public Investment Policy Specialist Individual - Consulting Active 19 Dec 2017 01 Jan 2018
DSGE Model Development Team Leader/Senior Specialist Individual - Consulting Active 11 Dec 2017 24 Dec 2017
Macroeconomic Advisory Support Subproject Individual - Consulting Active 05 Sep 2017 11 Sep 2017
Public Investment Legal Specialist Individual - Consulting Active 25 Aug 2017 31 Aug 2017

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.