Public Financial Management Project (ADB-50295-001)

Countries
  • Marshall Islands
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
Approved
Bank Risk Rating
C
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
Oct 13, 2017
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 the Marshall Islands
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)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 13, 2019

Disclosed by Bank Oct 13, 2017


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Project Description

The project will enhance the institutional capacity of the Ministry of Finance (MOF) to effectively implement PFM and state-owned enterprise (SOE) reforms.

PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY
The project is consistent with ADB's Pacific Approach 2016-2020, which serves as the overall Country Partnership Strategy for the RMI, and supports (i) PFM improvements in order to achieve the outcome of greater resilience to external economic and financial shocks, and (ii) increased financial efficiency of SOEs in order to achieve the outcome of a more conducive environment for business.

CONSULTING SERVICES

The project is expected to mobilize 22 person-months of a senior individual international consultant as Advisor to the Ministry of Finance. Also, four individual consultants will be recruited: two senior national consultants for 33 person-months each and two international consultants for 22 person-months each. For state-owned enterprise reforms, the project is additionally expected to mobilize 6 person-months each of 2 individual international consultants.

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Ministry of Finance
P.O. Box D, Majuro
MH 96960
Republic of the Marshall Islands

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