According to the Bank’s website, the project comprises two subprograms supporting public sector management reforms that will facilitate Palau's recovery from the coronavirus disease (COVID-19) crisis. Subprogram 2 deepens and implements reforms initiated under subprogram 1, which was approved on 23 April 2021. Overall, the program seeks to (i) strengthen the policy and legislative framework for public financial management; (ii) reduce fiscal risks from weak management of public revenue, expenditure, and liabilities; and (iii) support private sector development, toward restoring sustained and equitable economic growth. Under subprogram 2, ADB supports 10 prior actions, all of which have been completed. The proposed budget support amount is $30 million (regular OCR) under subprogram 2 in FY2022, which along with the $25 million ($20 million COL and $5 million OCR) approved under subprogram 1, brings ADB's total financing under this program to $55 million.
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