Strengthening Macroeconomic Resilience Program (Subprogram 2) (ADB-54054-002)

Countries
  • Samoa
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
Nov 22, 2024
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 Samoa - Ministry of Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
  • 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)
$ 7.85 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)
$ 26.10 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
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 31, 2025

Disclosed by Bank Nov 22, 2024

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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 program aims to restore fiscally sustainable growth in Samoa, which was adversely affected by the coronavirus disease (COVID-19) pandemic. While positive economic development, including slowing inflation, robust tourism arrivals, and increasing remittance inflows, have been noted post-COVID-19, the implementation of policy reforms is critical to support the Government of Samoa’s development priorities as outlined in the Pathway for the Development of Samoa (PDS), FY2021/22–2025/26. In line with this, the program supports the government in three policy reform areas: (i) enhanced fiscal management and sustainability, (ii) improved and inclusive private sector recovery, and (iii) improved finance sector development and inclusion. Under Subprogram 2, additional reform actions were pursued.

 

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.

In compliance with ADB’s Safeguard Policy Statement (2009), the program is classified category C for environment, involuntary resettlement, and Indigenous Peoples. Program activities were confined to policy and institutional reforms. The policy actions under subprogram 2 are neither expected to result in or lead to involuntary resettlement nor negatively affect indigenous peoples or the environment.

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 $7.85 million from ADB’s Special Funds resources (Asian Development Fund) to help finance subprogram 2. ADB’s policy-based grant, alongside support from JPAM partners, helps the government meet financing needs and build fiscal buffers to respond to increasing climate and disaster risks. The Government of Australia disbursed $4.05 million (equivalent to A$6.00 million) in July 2024, the Government of New Zealand plans to disburse $4.20 million (equivalent to NZ$7 million) in June 2025. ADB will disburse the grant under the second subprogram in FY2025, and the World Bank plans to disburse $10 million (plus $20 million under the Catastrophe Deferred Drawdown Option) toward the end of FY2025.


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.

No contacts available at the time of disclosure.

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.

How it works

How it works