Armenia: Support to Public Efficiency and Financial Markets Program

Sovereign Project | 51060-001

The TA will (i) assess the financial sector to get an understanding of the level of development in the money market and its interactions with the government's debt-issuance program, (ii) review international best practice in financial sector and capital market development to understand the gaps and binding constraints in the Armenian context, (iii) work with MOF to improve its PPP capacity and improve operations in debt management, (iv) suggest strengthening of the draft policy matrix on the basis of discussions with the government, (v) work with government agencies to support implementing the policy actions necessary for subprogram 1, (vi) build institutional and individual capacity in government agencies to ensure that policy actions will continue after the program has finished, (vii) work with the government agencies to support implementing the policy actions necessary for subprogram 2, and (viii) report to ADB on progress of each of the major activities listed.

Project Details

  • Project Officer
    Farinha Fernandes, Joao Pedro
    Central and West Asia Department
    Request for information
  • Country/Economy
    Armenia
  • Modality
    • Technical Assistance
  • Sector
    • Finance
Project Name Support to Public Efficiency and Financial Markets Program
Project Number 51060-001
Country / Economy Armenia
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9332-ARM: Support to Public Efficiency and Financial Markets Program
Technical Assistance Special Fund US$ 500,000.00
TA 9332-ARM: Support to Public Efficiency and Financial Markets Program (Supplementary)
Technical Assistance Special Fund US$ 100,000.00
TA 9332-ARM: Support to Public Efficiency and Financial Markets Program (Supplementary)
Technical Assistance Special Fund US$ 100,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Partnerships
Private sector development
Sector / Subsector

Finance / Finance sector development - Money and capital markets

Public sector management / Public expenditure and fiscal management

Gender Equity and Mainstreaming No gender elements
Description The TA will (i) assess the financial sector to get an understanding of the level of development in the money market and its interactions with the government's debt-issuance program, (ii) review international best practice in financial sector and capital market development to understand the gaps and binding constraints in the Armenian context, (iii) work with MOF to improve its PPP capacity and improve operations in debt management, (iv) suggest strengthening of the draft policy matrix on the basis of discussions with the government, (v) work with government agencies to support implementing the policy actions necessary for subprogram 1, (vi) build institutional and individual capacity in government agencies to ensure that policy actions will continue after the program has finished, (vii) work with the government agencies to support implementing the policy actions necessary for subprogram 2, and (viii) report to ADB on progress of each of the major activities listed.
Project Rationale and Linkage to Country/Regional Strategy To prepare the Public Efficiency and Financial Markets Program, a transaction technical assistance (TA) is required. Through this TA, the Asian Development Bank (ADB) will flexibly provide strategic policy advice to the Government of Armenia in preparing the program and meeting the conditions to process the loan. As the policy conditions for the loan must be in place at the time of approval, this TA will provide the government the needed assistance to meet the conditions in time. The TA is included in the Armenia Country Operations Business Plan 2018-2020.
Impact
Project Outcome
Description of Outcome
Progress Toward Outcome
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
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 has engaged 5 international consultants (public debt management expert, fiscal risk expert, accounting and auditing expert, capital and money markets specialist, and PPP policy and institutional specialist), and 3 national consultants (accounting and auditing expert, capital market legal specialist, and financial sector development expert/project coordinator).
Responsible ADB Officer Farinha Fernandes, Joao Pedro
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Ministry of Finance (MOF)
1 Melik Adamyan, Yerevan
Armenia
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval 27 Jun 2017
Last Review Mission -
Last PDS Update 25 Sep 2018

TA 9332-ARM

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
27 Jun 2017 28 Jul 2017 28 Jul 2017 31 Dec 2018 31 Mar 2020 01 Jun 2020
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
700,000.00 0.00 0.00 0.00 0.00 0.00 700,000.00 17 Jun 2022 693,723.33

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 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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Tenders

Tender Title Type Status Posting Date Deadline
International Accounting and Auditing Expert Individual - Consulting Closed 30 Aug 2017 03 Sep 2017
International Capital and Money Markets Specialist Individual - Consulting Closed 30 Aug 2017 03 Sep 2017
International PPP Policy and Institutional Specialist Individual - Consulting Closed 09 Aug 2017 15 Aug 2017
National Accounting and Auditing Expert Individual - Consulting Closed 09 Aug 2017 15 Aug 2017
National Financial Sector Development Expert/Project Coordinator Individual - Consulting Closed 09 Aug 2017 15 Aug 2017
International Public Debt Management Expert Individual - Consulting Closed 09 Aug 2017 15 Aug 2017
International Fiscal Risk Expert Individual - Consulting Closed 09 Aug 2017 15 Aug 2017
National capital markets legal specialist Individual - Consulting Closed 09 Aug 2017 15 Aug 2017

Contracts Awarded

No contracts awarded for this project were found


Procurement Plan

None currently available.