Pakistan : Building Resilience with Active Countercyclical Expenditures Program

Sovereign Project | 56148-001

The principal objective of the Program is to mitigate the adverse socio-economic effects of the economic crises and enhance the resilience of poor and vulnerable groups to socio-economic shocks. The scope of the proposed program includes implementation of (a) increased social protection measures; (b) increased food security measures; and (c) enhanced support for business.

Project Details

  • Project Officer
    Tora, Laisiasa Natakubu
    Sectors Group
    Request for information
  • Country/Economy
    Pakistan
  • Sector
    • Public sector management
Project Name
Building Resilience with Active Countercyclical Expenditures Program
Project Number
56148-001
Country / Economy
  • Pakistan
Project Status
Closed
Project Type / Modality of Assistance
  • Loan
Source of Funding / Amount
Loan 4234-PAK: Building Resilience with Active Countercyclical Expenditures (BRACE)
Source Amount
Ordinary capital resources US$ 1,250.00 million
Loan 4235-PAK: Building Resilience with Active Countercyclical Expenditures Program
Source Amount
Concessional ordinary capital resources lending US$ 250.00 million
Loan: Building Resilience with Active Countercyclical Expenditures Program
Source Amount
Asian Infrastructure Investment Bank US$ 500.00 million
Operational Priorities
  • OP1: Addressing remaining poverty and reducing inequalities
  • OP2: Accelerating progress in gender equality
  • OP5: Promoting rural development and food security
  • OP6: Strengthening governance and institutional capacity
  • OP7: Fostering regional cooperation and integration
Sector / Subsector
  • Public sector management / Public expenditure and fiscal management - Social protection initiatives

Gender
Effective gender mainstreaming
Description
The principal objective of the Program is to mitigate the adverse socio-economic effects of the economic crises and enhance the resilience of poor and vulnerable groups to socio-economic shocks. The scope of the proposed program includes implementation of (a) increased social protection measures; (b) increased food security measures; and (c) enhanced support for business.
Project Rationale and Linkage to Country/Regional Strategy
The proposed program will support the government's efforts to provide relief while, in conjunction with other development partners aligned to the government's reform program with the International Monetary Fund (IMF), accelerate the ongoing implementation of structural reforms to improve Pakistan's medium-to long-term macroeconomic resilience and prospects. The program is aligned with the government's strategic priorities and the objective to promote social inclusion by strengthening the support provided to poor and vulnerable groups, improving economic resilience, and supporting the trade related sectors. The program is also aligned with Strategy 2030 of the Asian Development Bank (ADB), particularly (i) operational priority (OP) 1: addressing remaining poverty and reducing inequalities; (ii) OP2: accelerating progress in gender equality; (iii) OP5: promoting rural development and food security; (iv) OP6: strengthening governance and institutional capacity; and (v) OP7: fostering regional cooperation and integration. The program is also aligned with ADB's country partnership strategy for Pakistan, 2021-2025, especially on reducing economic and social disparities, strengthening economic governance, and supporting private sector development. Pakistan meets all the criteria required to access ADB's countercyclical support facility, which include adverse impact of exogenous shocks, pro-poor countercyclical development expenditure program, public debt levels maintained at sustainable levels, and ongoing implementation of structural reforms.
Impact

Macroeconomic management strengthened, and more sustained, and inclusive growth supported.

Project Outcome

Description of Outcome

Adverse socioeconomic effects of the crisis mitigated, and resilience of poor, and vulnerable groups enhanced.

Progress Toward Outcome

Implementation Progress

Description of Project Outputs

Increased social protection measures implemented.

Increased food security measures implemented.

Enhanced support for business implemented.

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
No action required.
Involuntary Resettlement
No action required.
Indigenous Peoples
No action required.

Stakeholder Communication, Participation, and Consultation

During Project Design
A range of stakeholders were consulted to identify the impacts of the exogenous shocks and align ADB's assistance with the government's needs, including (i) the Ministry of Finance, (ii) the Ministry of Economic Affairs, (iii) Ministry of Industries and Production, (iv) Ministry of National Food Security and Research, (v) Benazir Income Support Program, and (vi) International Monetary Fund.
During Project Implementation
An independent third-party survey of beneficiaries will be conducted to assess the effectiveness, efficiency, and credibility of the of the government's countercyclical expenditure measures as part of the agreed monitoring and evaluation framework between ADB and the government.

Business Opportunities

Consulting Services
Not applicable.
Procurement
Not applicable.

Contact

Responsible ADB Officer
Tora, Laisiasa Natakubu
Responsible ADB Department
Sectors Group
Responsible ADB Division
Public Sector Management and Governance Sector Office (SG-PSMG)
Executing Agencies
Ministry of Finance and Revenue

Timetable

Concept Clearance
-
Fact Finding
18 Aug 2022 to 25 Aug 2022
MRM
14 Sep 2022
Approval
21 Oct 2022
Last Review Mission
-
Last PDS Update
21 Oct 2022

Funding

Loan 4234-PAK

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Oct 2022 24 Oct 2022 24 Oct 2022 31 Dec 2023 - 31 Dec 2023
Financing Plan
  Total (Amount in US$ million)
Project Cost 1,250.00
ADB 1,250.00
Counterpart 0.00
Cofinancing 0.00
Loan Utilization
  Date ADB Others Net Percentage
Cumulative Contract Awards 14 Feb 2024 1,250.00 0.00 100%
Cumulative Disbursements 14 Feb 2024 1,250.00 0.00 100%

Loan 4235-PAK

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Oct 2022 24 Oct 2022 24 Oct 2022 31 Dec 2023 - 31 Dec 2023
Financing Plan
  Total (Amount in US$ million)
Project Cost 250.00
ADB 250.00
Counterpart 0.00
Cofinancing 0.00
Loan Utilization
  Date ADB Others Net Percentage
Cumulative Contract Awards 14 Feb 2024 250.00 0.00 100%
Cumulative Disbursements 14 Feb 2024 250.00 0.00 100%

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.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.


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.

None currently available.


Evaluation Documents See also: Independent Evaluation

None currently available.


Related Publications

None currently available.


The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.

Tenders

No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.