Mongolia : Strengthening Fiscal, Financial, and Economic Resilience Subprogram 1

Sovereign Project | 55209-003

Mongolia's current growth trajectory is a critical period to implement and accelerate structural reforms. More specifically, these reforms should address challenges related to strengthening public financial management, the finance sector, and the role of the private sector in the quest for economic diversification.

Project Details

  • Project Officer
    Van Rijn, Johannes Jacobus Frederik
    Sectors Group
    Request for information
  • Country/Economy
    Mongolia
  • Sector
    • Public sector management
Project Name Strengthening Fiscal, Financial, and Economic Resilience Subprogram 1
Project Number 55209-003
Country / Economy Mongolia
Project Status Proposed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan: Strengthening Fiscal, Financial, and Economic Resilience Subprogram 1
Ordinary capital resources US$ 100.00 million
Operational Priorities OP1: Addressing remaining poverty and reducing inequalities
OP2: Accelerating progress in gender equality
OP6: Strengthening governance and institutional capacity
OP7: Fostering regional cooperation and integration
Sector / Subsector

Finance / Finance sector development

Public sector management / Public expenditure and fiscal management

Gender Effective gender mainstreaming
Description

Mongolia's current growth trajectory is a critical period to implement and accelerate structural reforms. More specifically, these reforms should address challenges related to strengthening public financial management, the finance sector, and the role of the private sector in the quest for economic diversification.

The proposed program comprises a set of complementary medium-term structural reforms, focused on strengthening the country's fiscal, finance sector, and economic resilience against the impact of exogenous shocks. More specifically, the program supports medium-term reforms focused on (i) improving domestic resource mobilization, by leveraging a critical set of tax administration and tax policy reforms; (ii) boosting debt sustainability through improving debt management and the management of sovereign liability risks; (iii) improving finance sector stability and resilience through strengthened banking sector supervision and regulation, enhancing NPL resolution, and promoting financial consumer protection; and (iv) strengthening the upstream environment for private sector development through relevant legal reforms, support for public private partnerships; and reforms focused on turning the Development Bank of Mongolia into an institution with a viable value proposition and operating model. In response to a suggestion made during the Informal Board Seminar, a third subprogram will be added to the programmatic approach.

Project Rationale and Linkage to Country/Regional Strategy
Impact
Outcome
Outputs
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 Van Rijn, Johannes Jacobus Frederik
Responsible ADB Department Sectors Group
Responsible ADB Division Public Sector Management and Governance Sector Office (SG-PSMG)
Executing Agencies
Ministry of Finance (formerly Ministry of Finance and Economy)
Timetable
Concept Clearance 23 May 2022
Fact Finding 23 May 2022 to 30 May 2022
MRM 02 Aug 2023
Approval -
Last Review Mission -
Last PDS Update 08 Aug 2022

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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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Tenders

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Procurement Plan

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