| Project Detail |
This proposed Knowledge and Support TA will continue ADBs support of the PFTAC of the IMF-responsible for providing knowledge and capacity development support to Pacific DMCs-in its Phase VI from May 2023 to April 2028._PFTAC was established in 1993 and is a collaborative venture between the IMF, the recipient countries, and bilateral and multilateral donors. All fourteen of ADBs DMCs in the Pacific are benefiting from PFTACs TA._PFTAC has responded effectively and in a timely manner to member countries needs in most program areas. All fourteen of ADBs DMCs in the Pacific are benefitting from PFTACs TA - Cook Islands, Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu. PFTAC has responded effectively and in a timely manner to member countries needs in most program areas. Project Name Pacific Financial Technical Assistance Centre, 2023-2028 Project Number 56235-001 Country / Economy Regional Cook Islands Fiji Micronesia, Federated States of Kiribati Nauru Niue Palau Papua New Guinea Marshall Islands Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu Project Status Active Project Type / Modality of Assistance Technical Assistance Source of Funding / Amount TA 10003-REG: Pacific Financial Technical Assistance Centre, 2023-2028 Technical Assistance Special Fund US$ 1.00 million Strategic Agendas Environmentally sustainable growth Inclusive economic growth Drivers of Change Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships Private sector development Sector / Subsector Finance / Central banking systems Public sector management / Economic affairs management - Public expenditure and fiscal management Gender Equity and Mainstreaming Some gender elements Description This proposed Knowledge and Support TA will continue ADBs support of the PFTAC of the IMF-responsible for providing knowledge and capacity development support to Pacific DMCs-in its Phase VI from May 2023 to April 2028._PFTAC was established in 1993 and is a collaborative venture between the IMF, the recipient countries, and bilateral and multilateral donors. All fourteen of ADBs DMCs in the Pacific are benefiting from PFTACs TA._PFTAC has responded effectively and in a timely manner to member countries needs in most program areas. All fourteen of ADBs DMCs in the Pacific are benefitting from PFTACs TA - Cook Islands, Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu. PFTAC has responded effectively and in a timely manner to member countries needs in most program areas. Project Rationale and Linkage to Country/Regional Strategy Public administrations in Pacific DMCs often face issues of weak capacity in policy making, management, and technical functions. Particularly affected are technical functions that are not routinely used and require specific expertise, but high staff turnover, lack of staff, and lack of adequate skills can also affect basic capabilities. In the public sector, this contributes to weaknesses in economic governance, and inefficient and ineffective public service delivery. Improving public sector management, strengthened government and SOE systems and processes, and specialized TA is a core part of Pacific Approach 2021-2025, ADBs country partnership strategy with the 12 smaller Pacific DMCs._Strengthening public sector management and maintaining focus on sustained capacity development are likewise emphasized in ADBs country partnership strategies with Fiji and Papua New Guinea._The proposed TA contributes to ADBs Strategy 2030 operational priorities (OP) on accelerating progress in gender quality (OP2), tackling climate change, building climate resilience, and enhancing environmental sustainability (OP3), strengthening governance and institutional capacity (OP6), and fostering regional cooperation and integration (OP7). This TA is in line with ADBs Strategy 2030 operational plan for operational priority (OP) 6 on strengthening governance and institutional capacity and contributes to OP2 on gender equality and OP3 on tackling climate change, building climate resilience, and enhancing environmental sustainability._PFTAC compliments ADBs support to address long-term capacity gaps in the Pacific, contributes to reducing fragmentation among donors, and achieving efficiencies in TA provision. Impact Macroeconomic and fiscal resilience to disaster caused by exogenous shock or natural hazards, climate change, and adverse economic developments strengthened; macro-financial sustainability promoted; and gender equity and inclusive growth facilitated (PFTAC Phase VI Program Document, May 2023April 2028). |
