Macroeconomic Advisory Support (ADB-50094-001)

Countries
  • Mongolia
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
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 8, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Mongolia
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 1.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 11, 2017

Disclosed by Bank Dec 9, 2016


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Project 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
  • Asian Development Bank (ADB)
Contact Information
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