Enduring Fiscal Position Program (ADB-58547-001)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Vanuatu
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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 4, 2025
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 Vanuatu - Ministry of Finance & Economic Management
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • 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)
$ 20.00 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)
$ 60.50 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
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 17, 2026

Disclosed by Bank Dec 4, 2025

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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.

According to the Bank’s website, the proposed Enduring Fiscal Position Program aims to strengthen the sustainability of Vanuatu's fiscal position through improved fiscal policy and public financial management (PFM) and strengthened management of fiscal risks from state-owned enterprises (SOEs), climate change, and disasters caused by natural hazards. The proposed program's policy-based lending (PBL) component will support critical structural reforms and provide budget financing at a time when fiscal space is constrained by substantial recovery and reconstruction efforts to address the damage caused by a 7.3 magnitude earthquake that struck the capital, Port Vila, in December 2024. It complements the multiyear reform program and development financing under the Asian Development Bank's (ADB) Finance Sector Development Program and immediate earthquake assistance provided through the Earthquake Emergency Response Project. The program also contains a new contingent disaster financing (CDF) component, given that the previous CDF was drawn down by Vanuatu after the earthquake under ADB's Pacific Disaster Resilience Program (Phase 5).

The proposed program supports the implementation of Vanuatu's National Sustainable Development Plan - Vanuatu 2030: The People's Plan - and is aligned with ADB Strategy 2030 and its midterm review's strategic focus areas of (i) climate action and (ii) resilience and empowerment. The program is consistent with the objectives of the Pacific Approach, 2021-2025, which serves as ADB's country partnership strategy for Vanuatu, emphasizing sustainable service delivery, and preparing for and responding to shocks. The program design, which combines PBL and CDF, reflects ADB's differentiated approach tailored to the needs of fragile and conflict-affected situations (FCAS) and small island developing states (SIDS). The program is coordinated with the budget support operations of the World Bank and the governments of Australia and New Zealand through the joint policy reform group.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environment: C
Involuntary Resettlement: C
Indigenous Peoples: C

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

The government has requested a grant not exceeding $20 million from ADB’s Special Funds resources (Asian Development Fund), comprising $10 million for subprogram 1 under the PBL component and $10 million for the CDF component to help finance the program.

Cofinancing:
Government of Australia - Program grant: US$ 9.90 million
Government of New Zealand - Program grant: US$ 0.60 million
World Bank - Program grant: US$ 30.00 million


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.

For the Recipient:

Ministry of Finance and Economic Management
Private Mail Bag 9058
Port Vila
Vanuatu
Facsimile Number: (678) 27937

For ADB:

Asian Development Bank
6 ADB Avenue
Mandaluyong City
1550 Metro Manila
Philippines
Facsimile Numbers: (632) 8636-2444

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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.

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