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Regional: Fiscal policy for green and inclusive development

Sovereign (Public) Project | 55130-001 Status: Active

The knowledge and support technical assistance (TA) will advance knowledge and policy insights on fiscal policies to support green and inclusive growth, with a focus on strengthening domestic resource mobilization (DRM), in developing Asia. The TA will carry out research by the Economic Research and Regional Cooperation Department (ERCD) in collaboration with leading global and regional experts, and findings will be shared and disseminated to policymakers and other stakeholders.

Project Details

Project Officer
Hill, Samuel C. Economic Research and Regional Cooperation Department Request for information
Country
  • Regional
Sector
  • Public sector management
 
Project Name Fiscal policy for green and inclusive development
Project Number 55130-001
Country Regional
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 0051-REG: Fiscal policy for green and inclusive growth
Technical Assistance Special Fund US$ 1.30 million
Technical Assistance Special Fund US$ 1.30 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Public sector management / Public expenditure and fiscal management

Gender Equity and Mainstreaming Some gender elements
Description The knowledge and support technical assistance (TA) will advance knowledge and policy insights on fiscal policies to support green and inclusive growth, with a focus on strengthening domestic resource mobilization (DRM), in developing Asia. The TA will carry out research by the Economic Research and Regional Cooperation Department (ERCD) in collaboration with leading global and regional experts, and findings will be shared and disseminated to policymakers and other stakeholders.
Project Rationale and Linkage to Country/Regional Strategy Many DMCs generate inadequate tax revenues to fund public expenditure needed to meet the SDGs. While a generally prudent approach to fiscal policy has helped promote macroeconomic stability across the region, a weak tax base has hindered government spending on public goods and services needed to promote sustainable and inclusive growth. It has limited the scope for governments to reduce inequality through transfers, including adequate social assistance. Weak tax revenues also increase the reliance on less reliable and costly forms of finance and threatens debt sustainability. While some DMCs made progress lifting tax revenues prior to the COVID-19 pandemic, revenues were, on average, considerably lower compared to advanced economies and many developing country peers. Fiscal policy is one of the most politically challenging areas of public policy. Increasing taxes or reducing public spending is invariably unpopular and fiscal policy reforms that may be in the broader interests of society can be stymied by powerful vested interests who stand to lose. Successful fiscal policy reform therefore requires strong political buy in. Knowledge products that provide fresh evidence on the impact of fiscal policies can play an important role in supporting policy reform deliberations as well as mustering reform support.
Impact Fiscal policy for green and inclusive development better leveraged.
Project Outcome
Description of Outcome Knowledge on strengthening revenue mobilization, public expenditure effectiveness, and fiscal management enhanced.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Research addressing priority areas on revenue mobilization strengthened.

Research addressing priority areas on government expenditure and fiscal management enhanced.

Online fiscal content enhanced, and AFM published

Knowledge sharing on fiscal policy strengthened.

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Regional
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 Hill, Samuel C.
Responsible ADB Department Economic Research and Regional Cooperation Department
Responsible ADB Division Office of the Chief Economist, ERD
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
Timetable
Concept Clearance 07 May 2021
Fact Finding -
MRM -
Approval 11 Jul 2021
Last Review Mission -
Last PDS Update 11 Jul 2021

TA 0051-REG

Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
2,600,000.00 0.00 0.00 0.00 0.00 0.00 2,600,000.00 - 0.00

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Tenders

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Procurement Plan

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