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Kazakhstan: Improving Public Debt Management

Sovereign (Public) Project | 52164-002 Status: Active

The knowledge and support technical assistance (TA) will support the Government of Kazakhstan and the Ministry of Finance (MOF) State Borrowing Department (SBD) in improving public debt management and developing the government securities market. The TA will (i) develop a debt management strategy for optimizing debt risks, costs, and coverage of public sector debt; (ii) prepare an action plan to develop the government securities market, including expanding the domestic and international investor base; and (iii) prepare a plan to improve government agency coordination for cash and debt management.

Project Details

Project Officer
Julian, Alexander Central and West Asia Department Request for information
Country
  • Kazakhstan
Sector
  • Public sector management
 
Project Name Improving Public Debt Management
Project Number 52164-002
Country Kazakhstan
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9618-KAZ: Improving Public Debt Management
Technical Assistance Special Fund US$ 750,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Partnerships
Private sector development
Sector / Subsector

Public sector management / Public expenditure and fiscal management

Gender Equity and Mainstreaming No gender elements
Description The knowledge and support technical assistance (TA) will support the Government of Kazakhstan and the Ministry of Finance (MOF) State Borrowing Department (SBD) in improving public debt management and developing the government securities market. The TA will (i) develop a debt management strategy for optimizing debt risks, costs, and coverage of public sector debt; (ii) prepare an action plan to develop the government securities market, including expanding the domestic and international investor base; and (iii) prepare a plan to improve government agency coordination for cash and debt management.
Project Rationale and Linkage to Country/Regional Strategy The aim of the TA is to strengthen MOF capacity for issuing and managing government debt and developing the government securities markets, and identify further reforms which could be included in a potential subsequent policy-based loan. A debt management strategy will guide state borrowing to meet the government''s financing needs at least cost, based on the desired risk profile and diversification of the debt portfolio and composition (i.e., increased share of domestic debt), while ensuring compliance with the government''s fiscal rules. A more developed domestic government securities market will reduce debt portfolio risks, increase access to funds, reduce financing costs, and provide greater resilience to financial crises.
Impact Effective fiscal policy to support economic growth
Project Outcome
Description of Outcome Public debt management improved
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Medium-term debt strategy prepared

Institutional coordination plan developed

Action plan for developing government securities market prepared

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design An ADB mission held consultations with key stakeholders during project design, including the Ministry of Finance, State Borrowing Department, Ministry of National Economy, the Astana International Financial Centre, and other development partners including the World Bank.
During Project Implementation
Business Opportunities
Consulting Services A total of 46 months of consulting services (18 international and 28 national) will be required intermittently. Consultants will be engaged using individual consultant selection and lump sum payments and output-based contracts will be considered. ADB will engage the consultants following the ADB Procurement Policy (2017, as amended from time to time) and its associated project administration instructions and staff instructions.
Responsible ADB Officer Julian, Alexander
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Ministry of Finance
11, Pobeda Avenue
Astana 010000
Kazakhstan
Timetable
Concept Clearance 26 Jul 2018
Fact Finding -
MRM -
Approval 18 Oct 2018
Last Review Mission -
Last PDS Update 23 Oct 2018

TA 9618-KAZ

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
18 Oct 2018 13 Nov 2018 13 Nov 2018 31 Dec 2020 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
750,000.00 0.00 100,000.00 0.00 0.00 0.00 850,000.00 18 Oct 2018 7,745.83

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
Improving Public Debt Management: Technical Assistance Report Technical Assistance Reports Oct 2018

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
Improving Public Debt Management - National Public Debt Management Specialist and Project Coordinator Individual - Consulting Closed 30 Nov 2018 24 Dec 2018
Improving Public Debt Management - International Capital Markets (Gov't Securities) Specialist Individual - Consulting Closed 26 Oct 2018 01 Nov 2018
Improving Public Debt Management - International Debt Management Specialist Individual - Consulting Closed 26 Oct 2018 01 Nov 2018
Improving Public Debt Management - National Capital Markets (Gov't Securities) Specialist Individual - Consulting Closed 26 Oct 2018 13 Nov 2018

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.