Samoa: Strengthening Macroeconomic Resilience Program (Subprogram 1)

Sovereign Project | 54054-001

The program will help the Government of Samoa implement reforms to restore fiscally sustainable growth led by the private sector, which has been adversely affected by the coronavirus disease (COVID-19) pandemic. The program will (i) strengthen macro-fiscal resilience through better planning, targeting of reforms, and management of state-owned enterprise financing and risks; (ii) support inclusive private sector growth through improved labor market protections, business regulation, and management of foreign investment; and (iii) enhance financial market development and financial inclusion through improved planning, regulation, and transparency.

Project Details

  • Project Officer
    Webb, James M.
    Pacific Department
    Request for information
  • Approval Date
    11 November 2022
  • Country/Economy
    Samoa
  • Sector
    • Public sector management
Project Name Strengthening Macroeconomic Resilience Program (Subprogram 1)
Project Number 54054-001
Country / Economy Samoa
Project Status Approved
Project Type / Modality of Assistance Grant

Source of Funding / Amount
Grant 0862-SAM: Strengthening Macroeconomic Resilience Program (Subprogram 1)
Asian Development Fund US$ 7.50 million
Grant: Strengthening Macroeconomic Resilience Program (Subprogram 1)
New Zealand Grant US$ 4.40 million
Government of Australia US$ 12.50 million
World Bank US$ 14.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Partnerships
Private sector development
Sector / Subsector

Finance / Finance sector development

Public sector management / Economic affairs management - Public expenditure and fiscal management

Gender Equity and Mainstreaming Some gender elements
Description

The program will help the Government of Samoa implement reforms to restore fiscally sustainable growth led by the private sector, which has been adversely affected by the coronavirus disease (COVID-19) pandemic. The program will (i) strengthen macro-fiscal resilience through better planning, targeting of reforms, and management of state-owned enterprise financing and risks; (ii) support inclusive private sector growth through improved labor market protections, business regulation, and management of foreign investment; and (iii) enhance financial market development and financial inclusion through improved planning, regulation, and transparency.

The program will be financed through two policy-based grants of $7.5 million each, to be implemented during fiscal year (FY) 2023 and FY2024. The program builds on reforms supported by previous Asian Development Bank (ADB) programs and financial support provided for COVID-19 response._The program was developed in collaboration with the World Bank and the governments of Australia and New Zealand, and in regular consultation with the International Monetary Fund (IMF).

Project Rationale and Linkage to Country/Regional Strategy The program is aligned with the government's development objective of empowering communities, building resilience, and inspiring growth. The program will support an inclusive fiscal and private sector recovery in Samoa from the impacts of COVID-19. Both subprograms will contribute to this outcome through sequenced policy actions that will support the government reform program.
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 Nation-wide
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
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 Webb, James M.
Responsible ADB Department Pacific Department
Responsible ADB Division PASP
Executing Agencies
Ministry of Finance
Timetable
Concept Clearance 08 Jul 2022
Fact Finding 06 Jul 2022 to 12 Aug 2022
MRM 01 Sep 2022
Approval 11 Nov 2022
Last Review Mission -
Last PDS Update 16 Nov 2022

Grant 0862-SAM

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
11 Nov 2022 22 Nov 2022 01 Dec 2022 31 Mar 2023 - -
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 7.50 Cumulative Contract Awards
ADB 7.50 28 Nov 2022 0.00 0.00 0%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 28 Nov 2022 7.50 0.00 100%

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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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Procurement Plan

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