Macroeconomic Advisory Support (ADB-50094-001)

Countries
  • Mongolia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 8, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Mongolia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 2, 2020

Disclosed by Bank Dec 9, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Mongolia has encountered challenges arising from faltering foreign direct investments, dampening global commodity prices, and weaker external demands. A sharp drop in exports and a protracted plunge in foreign direct investments have inflated pressures on the balance of payments and government finance. The authorities have initiated crisis adjustments in August 2016. The government set up a task force to develop an Economic Stabilization Plan (ESP).

While the plan is under process for Parliament approval, the government has already announced fiscal consolidation measures, including revenue mobilization through several tax reforms, discontinuation of several quasi fiscal operations, civil servants' salary cuts, and the temporary suspension of new contracts and procurements. On the monetary stance, the monetary authority raised the policy rate to mop up liquidity to protect the currency from potential speculative attacks. The proposed technical assistance aims to provide a timely advisory support for the preparation and implementation of the ESP plan in a flexible manner which allows the government and ADB to respond to merging reform issues in the next few years.

The proposed technical assistance will take the facility type modality, which allows ADB to respond to the government''s emerging needs in the implementation of the ESP through frequent consultations and the use of flexible mechanism to govern proposal submission and consideration.

CONSULTING SERVICES
The TA will engage experts with inputs equivalent to 20 person-months of international consultants, 20 person-months of national consultants, and 15 resource persons for workshops and seminars. Consultants will be recruited individually following ADB's Guidelines on Use of Consultants.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

How it works

How it works