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Papua New Guinea: Fiscal and Debt Sustainability Program (Subprogram 1)

Sovereign (Public) Project | 53425-001 Status: Proposed

The proposed Fiscal and Debt Sustainability Program will support government efforts to improve fiscal and debt management practices and their implementation, while supporting legal and regulatory reforms to strengthen the financial system. The policy-based guarantee enables finance sector deepening by encouraging new commercial banks into PNG.

Project Details

Project Officer
Wyatt, Pamela Pacific Department Request for information
Country
  • Papua New Guinea
Sector
  • Public sector management
 
Project Name Fiscal and Debt Sustainability Program (Subprogram 1)
Project Number 53425-001
Country Papua New Guinea
Project Status Proposed
Project Type / Modality of Assistance Private Sector Loan
Source of Funding / Amount
GU: Fiscal and Debt Sustainability Program
Ordinary capital resources US$ 180.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Sector / Subsector

Public sector management / Public administration

Gender Equity and Mainstreaming No gender elements
Description The proposed Fiscal and Debt Sustainability Program will support government efforts to improve fiscal and debt management practices and their implementation, while supporting legal and regulatory reforms to strengthen the financial system. The policy-based guarantee enables finance sector deepening by encouraging new commercial banks into PNG.
Project Rationale and Linkage to Country/Regional Strategy The program is aligned with the ADB country partnership strategy, 2016 2020 for PNG and ADB's Strategy 2030, with an emphasis on operational priority 7 (strengthening governance and institutional capacity). A programmatic approach and policy-based guarantee (PBG) is proposed to finance two subprograms to be implemented during 2020 and 2021. A programmatic approach reflects the medium-term horizon and flexibility needed to effectively design and implement reforms. Use of a PBG will allow ADB to leverage private sector capital from international markets, which the government intends to mobilize to restructure public debt; and lower debt servicing costs.
Impact Good governance and broad-based growth to build a prosperous nation
Outcome Fiscal and debt sustainability improved
Outputs

Fiscal management

Debt management

Diversified and resilient finance sector

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
Responsible ADB Officer Wyatt, Pamela
Responsible ADB Department Pacific Department
Responsible ADB Division PASP
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval -
Last Review Mission -
Last PDS Update 19 Feb 2020

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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Tenders

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Contracts Awarded

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Procurement Plan

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