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Regional: Enhancing Financial Management in Central and West Asia

Sovereign (Public) Project | 54144-001 Status: Active

The regional knowledge and support technical assistance (RETA) will build financial management capacity and help boost the quality of financial due diligence and financial management to improve financial sustainability of executing/implementing agencies (EAs/IAs). It will also help to enhance financial management throughout the project cycle in the Central West Asia developing member countries (DMCs) . This will be achieved through enhanced guidance to project teams and, EAs/IAs by developing project financial management manuals (the manuals) and project internal audit and internal control charters (the charters) and strategically placed regional consultants.

Project Details

Project Officer
Nazmieva, Oksana Central and West Asia Department Request for information
Country
  • Regional
Sector
  • Public sector management
 
Project Name Enhancing Financial Management in Central and West Asia
Project Number 54144-001
Country Regional
Afghanistan
Armenia
Azerbaijan
Georgia
Kazakhstan
Kyrgyz Republic
Pakistan
Tajikistan
Turkmenistan
Uzbekistan
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6625-REG: Enhancing Financial Management in Central West Asia
Technical Assistance Special Fund US$ 300,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Sector / Subsector

Public sector management / Public administration

Gender Equity and Mainstreaming Some gender elements
Description The regional knowledge and support technical assistance (RETA) will build financial management capacity and help boost the quality of financial due diligence and financial management to improve financial sustainability of executing/implementing agencies (EAs/IAs). It will also help to enhance financial management throughout the project cycle in the Central West Asia developing member countries (DMCs) . This will be achieved through enhanced guidance to project teams and, EAs/IAs by developing project financial management manuals (the manuals) and project internal audit and internal control charters (the charters) and strategically placed regional consultants.
Project Rationale and Linkage to Country/Regional Strategy

Robust financial due diligence during project processing will help DMCs strengthen their capacity to design, finance and implement ADB-funded projects and programs, improve financial sustainability and viability of the entities implementing projects, contribute to more successful projects/programs outcomes and provide greater development impact. Increased worldwide attention to effectiveness of financial support and financial sustainability requires to enhance fiduciary oversight of financial aid and increase fiduciary accountability and responsibility of DMCs to better manage financial risks.

A majority of central west DMCs are in transition to adoption of the International Financial Reporting Standards (IFRS) or International Public Sector Accounting Standards (IPSAS) and aligning their national accounting standards with IFRS. The transition is challenging due to limited local expertise and lack of comprehensive manuals for EA/IAs. Additionally, many governance risk assessments for Central Asian DMCs have identified weak internal audit and internal control country systems. To mitigate inherent risks the TA will pilot the development of charters for EA/IAs. The charters will develop a blueprint for EA/IAs to strengthen internal controls, manage financial risk and ensure adequate financial compliance.

Impact Improvements in public expenditure efficiency in Central West Asia DMCs
Project Outcome
Description of Outcome Portfolio performance in Central West Asia DMCs improved
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

1. Financial due diligence strengthened

2. Financial reporting compliance improved

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Afghanistan - Nation-wide; Armenia - Nation-wide; Azerbaijan - Nation-wide; Georgia - Nation-wide; Kazakhstan - Nation-wide; Kyrgyz Republic - Nation-wide; Pakistan - Nation-wide; Tajikistan - Nation-wide; Turkmenistan - Nation-wide; Uzbekistan - 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 Nazmieva, Oksana
Responsible ADB Department Central and West Asia Department
Responsible ADB Division CWOD-PSG
Timetable
Concept Clearance 30 Sep 2020
Fact Finding -
MRM -
Approval 27 Nov 2020
Last Review Mission -
Last PDS Update 10 Dec 2020

TA 6625-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
27 Nov 2020 - 27 Nov 2020 30 Nov 2023 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
300,000.00 0.00 0.00 0.00 0.00 0.00 300,000.00 27 Nov 2020 0.00

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.

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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Procurement Plan

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