Original disclosure @ ADB website
Updated in EWS Apr 14, 2023
Disclosed by Bank Aug 31, 2022
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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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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.