Fiscal Policy for Green and Inclusive Development Subproject 1: Revenue Mobilization for Green and Inclusive Development (ADB-55130-002)

  • East Asia and Pacific
  • South Asia
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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
Jul 13, 2021
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.
  • Climate and Environment
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.30 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.
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 10, 2022

Disclosed by Bank Jul 13, 2021

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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 ADB documents, the proposed TA subproject will advance knowledge and policy insights and build technical capacity on fiscal policies to support green and inclusive development advancing economic, social, and environmental objectives in developing Asia. The Economic Research and Regional Cooperation Department (ERCD), in collaboration with leading experts will carry out research , and findings will be disseminated to policymakers and other stakeholders. The project closely aligns with ADB's Strategy 2030 on ADB's role in enhancing DRM and improving public expenditure effectiveness. By addressing the funding and provision of public goods and services, the subproject contributes to the ADB vision of a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. The TA is also aligned with the Sustainable Development Goals. The proposed TA is included in the current Management-approved annual work program of ERCD.


The cluster TA will have the following outcome: knowledge on strengthening revenue mobilization, public expenditure effectiveness, and fiscal management enhanced.

Subproject 1 will contribute to the cluster TA’s overall outcome by producing knowledge products that provide a platform for an improved understanding of the fiscal landscape in developing member countries (DMCs), including the potential impact of the coronavirus disease (COVID-19) pandemic, and how revenue mobilization can be strengthened to contribute to green and inclusive development. The TA will produce the following outputs to help DMCs across the region address a range of core fiscal policy challenges as they emerge from the pandemic. At least seven research studies will be produced, each providing an in-depth analysis of specific aspects of fiscal policy design and challenges in developing Asia, with a focus on strengthening tax revenues. Together, these studies will provide a fresh knowledge base on pertinent fiscal challenges in DMCs.


 Inefficient and inadequate taxes and government expenditures in developing member countries (DMCs) hinder the provision of education, health, social protection, and physical infrastructure needed to promote green and inclusive development. The United Nations Economic and Social Commission for Asia and the Pacific estimates the region needs to invest $1.5 trillion annually from 2016 to 2030 to achieve SDGs. While private finance is crucial, much of this expenditure must be met by stronger tax revenue. Inadequate taxes also impede the effectiveness of counter-cyclical fiscal policy and increase reliance on costly finance. An inefficient tax mix can increase reliance on more distortive and growth retarding taxes; worsen income distribution; and work against environmental and social policy objectives.

The COVID-19 pandemic has exacerbated fiscal pressures, with revenues falling sharply across the region due to the economic downturn and stimulus measures. Combined with higher spending, fiscal deficits have widened considerably. While fiscal pressures should ease as economies emerge from the pandemic, the economic outlook remains uncertain and government balance sheets may remain weak for some time.

Fiscal policy is one of the most politically challenging areas of public policy. Increasing taxes or reducing public spending can be unpopular, and fiscal policy reforms in the broader interests of society can be stymied by vested interests. Successful fiscal policy reform, therefore, requires strong political buy-in. Knowledge products that provide fresh evidence on the benefits of fiscal policy reforms and the impact of alternative and timely policy options can play an important role in supporting policy reform dialogue and mobilizing political support for reform.


Fiscal policy for green and inclusive development better leveraged.

Investment Description
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Contact Information
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Responsible ADB Officer Hill, Samuel C.
Responsible ADB Department Economic Research and Regional Cooperation Department
Responsible ADB Division Office of the Chief Economist, ERD
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines



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