Regional : Fiscal policy for green and inclusive development
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
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Project Officer
Hill, Samuel C.
Economic Research and Regional Cooperation Department
Request for information -
Country/Economy
Regional -
Sector
- Public sector management
| Project Name | Fiscal policy for green and inclusive development | ||||
| Project Number | 55130-001 | ||||
| Country / Economy | Regional |
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| Project Status | Active | ||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Operational Priorities | OP2: Accelerating progress in gender equality OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability OP6: Strengthening governance and institutional capacity |
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| Sector / Subsector | Public sector management / Public expenditure and fiscal management |
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| Gender | 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. |
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| Impact | Fiscal policy for green and inclusive development better leveraged. |
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| 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 | |
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| 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 |
| 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 | |||||
| 1,300,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,300,000.00 | - | 0.00 |
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| Title | Document Type | Document Date |
|---|---|---|
| Fiscal Policy for Green and Inclusive Development: Technical Assistance Report | Technical Assistance Reports | Jul 2021 |
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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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