Papua New Guinea: Fiscal and Debt Sustainability Program (Subprogram 1)
The proposed Fiscal and Debt Sustainability Program will support government efforts to improve fiscal and debt management practices and their implementation, while supporting legal and regulatory reforms to strengthen the financial system. The policy-based guarantee enables finance sector deepening by encouraging new commercial banks into PNG.
Project Details
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Project Officer
Wyatt, Pamela
Pacific Department
Request for information -
Country/Economy
Papua New Guinea -
Sector
- Public sector management
| Project Name | Fiscal and Debt Sustainability Program (Subprogram 1) | ||||
| Project Number | 53425-001 | ||||
| Country / Economy | Papua New Guinea |
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| Project Status | Proposed | ||||
| Project Type / Modality of Assistance | Private Sector Loan |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Governance and capacity development |
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| Sector / Subsector | Public sector management / Public administration |
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| Gender Equity and Mainstreaming | No gender elements | ||||
| Description | The proposed Fiscal and Debt Sustainability Program will support government efforts to improve fiscal and debt management practices and their implementation, while supporting legal and regulatory reforms to strengthen the financial system. The policy-based guarantee enables finance sector deepening by encouraging new commercial banks into PNG. | ||||
| Project Rationale and Linkage to Country/Regional Strategy | The program is aligned with the ADB country partnership strategy, 2016 2020 for PNG and ADB's Strategy 2030, with an emphasis on operational priority 7 (strengthening governance and institutional capacity). A programmatic approach and policy-based guarantee (PBG) is proposed to finance two subprograms to be implemented during 2020 and 2021. A programmatic approach reflects the medium-term horizon and flexibility needed to effectively design and implement reforms. Use of a PBG will allow ADB to leverage private sector capital from international markets, which the government intends to mobilize to restructure public debt; and lower debt servicing costs. | ||||
| Impact | Good governance and broad-based growth to build a prosperous nation | ||||
| Outcome | Fiscal and debt sustainability improved | ||||
| Outputs | Fiscal management Debt management Diversified and resilient finance sector |
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| Geographical Location | Nation-wide | ||||
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Wyatt, Pamela |
| Responsible ADB Department | Pacific Department |
| Responsible ADB Division | PASP |
| Timetable | |
|---|---|
| Concept Clearance | - |
| Fact Finding | - |
| MRM | - |
| Approval | - |
| Last Review Mission | - |
| Last PDS Update | 19 Feb 2020 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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| Title | Document Type | Document Date |
|---|---|---|
| Fiscal and Debt Sustainability Program: Concept Paper | Concept Papers | Jan 2020 |
| Fiscal and Debt Sustainability Program (Subprogram 1): Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Jan 2020 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
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Tenders
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Contracts Awarded
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Procurement Plan
None currently available.