Strengthening Fiscal and Financial Stability Project (WB-P161048)

Countries
  • Mongolia
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 9, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Mongolia
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 12.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 12.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Sep 12, 2017

Disclosed by Bank Feb 8, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
The development objective of Strengthening Fiscal and Financial Stability Project for Mongolia is to contribute to the government of Mongolia’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure management. This project has five components. 1) The first component, Strengthening Macroeconomic and Fiscal Management, aims to strengthen fiscal responsibility and support the implementation of relevant policy measures toward (a) improving the quality of expenditure management, (b) strengthening macroeconomic and budget policy-making capacity, and (c) improving regulatory processes. It has the following three subcomponents: (i) Improving macroeconomic policy tools and enhancing research capacity; (ii) Strengthening fiscal policy and planning; and (iii) Strengthening capacity for debt management and external development financing operations. 2) The second component, Improving the Efficiency of Public Financial Management, aims to improve fiscal discipline by strengthening the country’s PFM and enhance the quality of expenditures by revamping PIM and fostering activities aimed at increasing transparency and accountability. It has the following four subcomponents: (i) Improving budget credibility, predictability, and execution for better delivery of services; (ii) Increasing budget comprehensiveness and transparency through better control, reporting, and expansion of the recipient’s Integrated Financial Management Information System capabilities; (iii) Strengthening the public financial management institutional capacity; and (iv) Strengthening Public Investment Management. 3) The third component, Enhancing Financial Sector Stability, aims to support the MOF, BOM, FRC, DBM, and DICOM to strengthen the resiliency of the banking system.
Investment Description
  • World Bank (WB)
Contact Information
Ministry of Finance Batsengee Dorjsembed Director General Development Financing Department dorjsembed_b@mof.gov.mn ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.