Marshall Islands : Public Financial Management Project
The project will enhance the institutional capacity of the Ministry of Finance (MOF) to effectively implement PFM and state-owned enterprise (SOE) reforms.
Project Details
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Project Officer
Narain, Ashish
Sectors Group
Request for information -
Country/Economy
Marshall Islands -
Sector
- Public sector management
Project Name | Public Financial Management Project | ||||||||||||
Project Number | 50295-001 | ||||||||||||
Country / Economy | Marshall Islands |
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Project Status | Active | ||||||||||||
Project Type / Modality of Assistance | Grant |
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Source of Funding / Amount |
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Strategic Agendas | Inclusive economic growth |
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Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships |
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Sector / Subsector | Public sector management / Public expenditure and fiscal management - Reforms of state owned enterprises |
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Gender | Some gender elements | ||||||||||||
Description | The project will enhance the institutional capacity of the Ministry of Finance (MOF) to effectively implement PFM and state-owned enterprise (SOE) reforms. | ||||||||||||
Project Rationale and Linkage to Country/Regional Strategy | The project is consistent with ADB's Pacific Approach 2016-2020 and supports (i) PFM improvements in order to achieve the outcome of greater resilience to external economic and financial shocks, and (ii) increased financial efficiency of SOEs in order to achieve the outcome of a more conducive environment for business. The project remains aligned with Pacific Approach 2021-2025, which serves as the current Country Partnership Strategy for the RMI, in prioritizing PFM improvements as a means to achieve a strategic objective of preparing for and responding to shocks, toward a broader goal of building resilience. | ||||||||||||
Impact | More effective governance achieved |
Project Outcome | |
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Description of Outcome | Public financial management improved |
Progress Toward Outcome | The Reform Coordination Unit (RCU) remains fully staffed and operational. Progress on the project is satisfactory since project effectiveness on 17 October 2017 and project activities remain on track. |
Implementation Progress | |
Description of Project Outputs | The MOF's institutional capacity to implement the PFM Reform Roadmap strengthened MOF's institutional capacity to implement SOE reforms strengthened |
Status of Implementation Progress (Outputs, Activities, and Issues) | Currently, there are 3 staff. Ongoing work with 3 targeted SOEs to assess legitimacy of CSOs through June 2021 SOE business plans (draft) submitted (10 of 11 SOEs) as per SOEMU deadlines. Although no formal outcomes can be reported in relation to CSOs, at this time, some progress has been made in relation to MAWC, who are now likely to be the first to achieve a formalized CSO Agreement. Tax reform analyses and reports completed as of 31 January 2021. The Team Leader continues to work as part of a working group (ADB, PFTAC, World Bank, MOF) to discuss and continue to develop a roadmap for implementing part of the tax reform recommendations that have been made under this project. In March 2023, the RCU closely coordinated with a World Bank in-country mission on the status of ongoing PFM and SOE reforms for potential further collaboration toward supporting reform implementation. Ongoing. 8 Female: Bachelors Degree; 14 Female: AA Degree; 4 Male: Bachelors Degree; 26 Male: AA Degree. Ongoing. MOF overall estimates are: Female 35, Male 65 Fiscal Responsibility and Debt Management Act and related regulations was enacted effective 8 June 2021. Ongoing, reform initiatives undertaken contributed to the Introduction of a Performance Based Management Framework. a. PFM-RCU edited/reviewed the Financial Management Act (Amended) drafted by the World Bank-PFM advisors, which was recently approved by the Nitijela; PFM-RCU edited/reviewed the revised Procurement Regulations PUBLIC PROCUREMENT CODE (Act) 2022 (World Bank), awaiting submission to Cabinet for review; Participated in all budget consultations with line ministries and agencies in relation to the FY2023 Appropriation. b. Completed initial draft of RMI Financial Sector Development Plan in coordination with the RMI Banking Commission; Facilitated and implemented costing of National Strategic Plan in coordination with UNICEF and Chief Secretarys office; Drafted and finalized National Investment Policy Statement (NIPS) 2022 Review Draft, consultations scheduled October/November with target of Cabinet Approval in December; Updated the Economic Policy Statement (EPS) for inclusion with the FY2023 Budget Submission. c.Continued work with line Ministries and EPPSO to revise format for Ministry Strategic Plans linking annual budgets to NPS/FMIS and SDGs, several currently being drafted with others in various stages of review for approval. d.Improved cash management, simplified cash monitoring template for Treasury and Accounting. e.Strengthened procurement management, close coordination with World Bank project in designing an FMIS (Completed) f.Participated in the rigorous As-Is To-Be Validation Workshops conducted by the team of consultants from Bisan, the new FMIS of the government. The objective of the workshops was to validate Bisan's conceptual understanding of the GRMI's current business process streams for expenditure and revenue management, and any peculiarities. The workshops presented prototypes of how GRMI's business process workflows and controls can be configured in the Bisan System. The Bisan system went live on 3 October 2022. g.Strengthened asset management development of Fixed Asset Management Manual; draft Asset Management manual for SOEs has been prepared and is subject to review prior to implementation with SOEs during 2022. h.Introduction of a performance-based management framework initial performance agreements signed with critical agencies. i.Improved management of imprest accounts of all RMI embassies. Procedures Manual finalized. j.PFM-RCU prepared/drafted management responses and corrective action plan for GRMI's audit findings and questioned costs from the FY2020 Single Audit. Coordinated with relevant ministries, agencies and SOEs in addressing the issues bringing down eleven initial findings to seven; PFM-RCU prepared/Drafted the Managements Discussion & Analysis of the GRMI's Single Audit for FY2020; PFM-RCU prepared/assisted the Accounting Department in the preparation of various schedules for the general ledger accounts of the national government in relation to the FY2021 Single Audit by Deloitte & Touche; PFM-RCU prepared/Assisted the Accounting Department in the reconciliation of various general ledger accounts of the national government for FY2022. k.Trained the new Accounting Compact Officer and new Compact Fiscal Officer on grants management from April to May 2022. l.PFM reform communications and training various publications, awareness-raising activities, training sessions. m.Improved debt management. Debt Management training ongoing for MOF Management Team (ADB) with the goal of establishing a debt management unit under Improved Debt Management component. Ongoing :Conducted an internal procurement training on 14 June 2022 involving key officers of the MOF. Conducted an MOF-wide preliminary procurement training on 2 August 2022 in preparation for the GRMI-wide procurement training. |
Geographical Location | Nation-wide |
Safeguard Categories | |
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Environment | C |
Involuntary Resettlement | C |
Indigenous Peoples | C |
Summary of Environmental and Social Aspects | |
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Environmental Aspects | There will be no environmental impacts. |
Involuntary Resettlement | In the absence of any civil works, the project will not result in any involuntary resettlement impacts. |
Indigenous Peoples | The dominant population of the RMI is indigenous to the islands, and project activities are designed for the entire economy, with no differentiation in benefits accruing to any group. |
Stakeholder Communication, Participation, and Consultation | |
During Project Design | The ultimate beneficiaries are the people of the RMI. The project objectives are aligned with the NSP, which was consulted within the RMI. |
During Project Implementation | Information will be shared with the public as appropriate, on the PFM reforms. The RMI is launching a website on SOEs, which will provide information. PFM reports (like the PEFA) will be shared, unless considered confidential. |
Business Opportunities | |
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Consulting Services | The project has mobilized the following consultants: an international Advisor to the Ministry of Finance; three financial management specialists; and two senior national consultants. For state-owned enterprise reforms, the project an international State-Owned Enterprise and Community Service Obligations Expert. |
Procurement | Not required. |
Responsible ADB Officer | Narain, Ashish |
Responsible ADB Department | Sectors Group |
Responsible ADB Division | Public Sector Management and Governance Sector Office (SG-PSMG) |
Executing Agencies |
Ministry of Finance, Banking and Postal Services |
Timetable | |
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Concept Clearance | 26 Apr 2017 |
Fact Finding | 19 Jun 2017 to 21 Jun 2017 |
MRM | 15 Aug 2017 |
Approval | 13 Oct 2017 |
Last Review Mission | - |
Last PDS Update | 19 Apr 2023 |
Grant 0547-RMI
Milestones | |||||
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Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
13 Oct 2017 | 17 Oct 2017 | 19 Oct 2017 | 30 Jun 2021 | 31 Mar 2022 | 27 Jul 2022 |
Financing Plan | Grant Utilization | ||||
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Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
Project Cost | 2.30 | Cumulative Contract Awards | |||
ADB | 2.00 | 25 Oct 2023 | 1.99 | 0.00 | 100% |
Counterpart | 0.30 | Cumulative Disbursements | |||
Cofinancing | 0.00 | 25 Oct 2023 | 1.99 | 0.00 | 100% |
Status of Covenants | ||||||
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Category | Sector | Safeguards | Social | Financial | Economic | Others |
Rating | - | Satisfactory | Satisfactory | Satisfactory | - | Satisfactory |
Grant 0658-RMI
Milestones | |||||
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Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
17 Sep 2019 | 24 Sep 2019 | 26 Sep 2019 | 30 Jun 2021 | 31 Mar 2022 | 05 Jul 2022 |
Financing Plan | Grant Utilization | ||||
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Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
Project Cost | 0.50 | Cumulative Contract Awards | |||
ADB | 0.50 | 25 Oct 2023 | 0.50 | 0.00 | 100% |
Counterpart | 0.00 | Cumulative Disbursements | |||
Cofinancing | 0.00 | 25 Oct 2023 | 0.50 | 0.00 | 100% |
Status of Covenants | ||||||
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Category | Sector | Safeguards | Social | Financial | Economic | Others |
Rating | - | Satisfactory | Satisfactory | Satisfactory | - | Satisfactory |
Grant 0795-RMI
Milestones | |||||
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Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
30 Jul 2021 | 06 Aug 2021 | 27 Aug 2021 | 31 Dec 2024 | - | - |
Financing Plan | Grant Utilization | ||||
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Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
Project Cost | 2.30 | Cumulative Contract Awards | |||
ADB | 2.00 | 25 Oct 2023 | 2.00 | 0.00 | 100% |
Counterpart | 0.30 | Cumulative Disbursements | |||
Cofinancing | 0.00 | 25 Oct 2023 | 1.59 | 0.00 | 79% |
Status of Covenants | ||||||
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Category | Sector | Safeguards | Social | Financial | Economic | Others |
Rating | - | Satisfactory | Satisfactory | Satisfactory | - | Satisfactory |
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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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 Access to Information Policy (AIP) 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.
ADB's Additional Financing to Further Improve Public Financial Management, SOE Reform in Marshall Islands
ADB has approved a $500,000 grant as additional financing for the ongoing Marshall Islands Public Financial Management Project that is improving public financial management and promoting SOE reform in the Pacific island country.ADB to Support Public Financial Management, SOE Reform in Marshall Islands
ADB's Board of Directors has approved a $2 million grant to help strengthen public financial management in the Marshall Islands.
Tenders
Tender Title | Type | Status | Posting Date | Deadline |
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Financial Management Specialist | Individual - Consulting | Closed | ||
CoA Advisor to the Ministry of Finance, Republic of the Marshall Islands | Individual - Consulting | Closed | ||
Public Financial Management Project - Financial Management Specialist (2) | Individual - Consulting | Closed | ||
Public Financial Management Project - HR Specialist (National) | Individual - Consulting | Closed | ||
Public Financial Management Project - Community Service Obligation Costing Expert | Individual - Consulting | Closed | ||
Public Financial Management Project - Advisor to the Ministry of Finance | Individual - Consulting | Closed | ||
Public Financial Management Project - Financial Management Specialist (1) | Individual - Consulting | Closed | ||
Public Financial Management Project - State-Owned Enterprise Monitoring Expert | Individual - Consulting | Closed | ||
Public Financial Management Project - Public Finance Specialist (Budget) | Individual - Consulting | Closed |
Contracts Awarded
Contract Title | Approval Number | Contract Date | Contractor | Address | Executing Agency | Total Contract Amount (US$) | Contract Amount Financed by ADB (US$) |
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ADVISOR TO THE MINISTRY OF FINANCE | Grant 0547 | 03 Aug 2021 | CHRIS YANCKELLO | 439 EAST NELSON AVENUE ALEXANDRIA VA 22301 UNITED STATES | Ministry of Finance, Banking and Postal Services | 593,816.26 | — |
HUMAN RESOURCES SPECIALIST (NATIONAL); REVISED CONTRACT AMOUNT IS $104 500 PER VO | Grant 0547 | 17 Jan 2021 | CHRISTINA DEBRUM | PO BOX 733 MAJURO 96960 MARSHALL ISLANDS | Ministry of Finance Banking and Postal Services | 104,500.00 | — |
PUBLIC FINANCE SPECIALIST (BUDGET)NATIONAL CONSULTANT; REVISED CONTRACT AMOUNT PER VO | Grant 0547 | 17 Jan 2021 | AYAKO YAMAGUCHI-ELIOU | PO BOX 3538 MAJURO MARSHALL ISLANDS | Ministry of Finance Banking and Postal Services | 144,500.00 | — |
FINANCIAL MANAGEMENT SPECIALIST(1) UNDER GRANT 0547-RMI: PUBLIC FINANCIAL MANAGEMENT SPECIALIST | Grant 0547 | 11 Jan 2021 | NORI JEAN LOPEZ | DELAP MAJURO 96960 PHILIPPINES | Ministry of Finance Banking and Postal Services | 243,006.00 | — |
FINANCIAL MANAGEMENT SPECIALIST(2) UNDER GRANT 0547-RMI: PUBLIC FINANCIAL MANAGEMENT PROJECT | Grant 0547 | 21 Jan 2021 | MARIA ROSARIO CHAP JABAGAT | UNIT A3207 GATEWAY GARDEN HEIGHTS PIONEER STREET MANDALUYONG CITY 1550 PHILIPPINES | Ministry of Finance Banking and Postal Services | 282,370.00 | — |
STATE-OWNED ENTERPRISE MONITORING EXPERT UNDER G0547-RMI: PUBLIC FINANCIAL MANAGEMENT PROJECT | Grant 0547 | 21 Jan 2021 | DAVID ANTHONY DRAKE | PO BOX 2162 GRACEVILLE QUEENSLAND 4075 AUSTRALIA | Ministry of Finance Banking and Postal Services | 450,250.00 | — |
ADVISOR TO THE MINISTRY OF FINANCE REPUBLIC OF THE MARSHALL ISLANDS | Grant 0547 | 17 Jan 2021 | CHRIS YANCKELLO | 439 EAST NELSON AVENUE ALEXANDRIA VA 22301 UNITED STATES | Ministry of Finance Banking and Postal Services | 577,250.00 | — |
TAX EXPERT (TECHNICAL) | Grant 0658 | 08 Dec 2020 | STEPHEN MICHAEL GERARD SMITH | 9 GLENCOE AVENUE HAMLYN TERRACE NSW AUSTRALIA | Ministry of Finance Banking and Postal Services | 139,745.97 | — |
STATE-OWNED ENTERPRISE MONITORING EXPERT UNDER G0547-RMI: PUBLIC FINANCIAL MANAGEMENT PROJECT | Grant 0547 | 14 Feb 2019 | DAVID ANTHONY DRAKE | PO BOX 2162 GRACEVILLE QUEENSLAND 4075 AUSTRALIA | Ministry of Finance | 382,000.00 | — |
HUMAN RESOURCES SPECIALIST (NATIONAL) | Grant 0547 | 25 Jun 2018 | CHRISTINA DEBRUM | PO BOX 733 MAJURO 96960 MARSHALL ISLANDS | Ministry of Finance | 174,500.00 | — |
ADVISOR TO THE MINISTRY OF FINANCE REPUBLIC OF THE MARSHALL ISLANDS | Grant 0547 | 10 Nov 2017 | CHRIS YANCKELLO | 439 EAST NELSON AVENUE ALEXANDRIA VA 22301 UNITED STATES | 462,000.00 | — |
Procurement Plan
Title | Document Type | Document Date |
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Public Financial Management Project: Procurement Plan | Procurement Plans | Oct 2017 |