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Description |
The proposed technical assistance will support PFTAC deepen its efforts to provide advisory services and build capacity in economic and financial management, in close collaboration with other TA providers. |
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Project Rationale and Linkage to Country/Regional Strategy |
Since 1994, the Asian Development Bank (ADB) has provided a total of approximately $4.4 million under eight regional technical assistance to support the operations of the Pacific Financial Technical Assistance Centre (PFTAC). In recognition of the cost advantages of PFTAC and its track-record of success, ADB s Pacific Regional Operations Business Plan 2007 2010 proposed ongoing funding of PFTAC for a further 3-year cycle in support of its four key areas of improved public financial management, tax administration and policy, banking regulation and supervision, and macroeconomic and financial statistics. Agreement was reached between the ADB, International Monetary Fund (IMF) and World Bank in late 2007 to an expansion of PFTAC through the incorporation of two World Bank experts (to add to a coordinator and four experts engaged by the IMF). |
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Impact |
Improved public sector economic and fiscal management and regulation, targeting the achievement of macroeconomic stability and the sustainability of economic growth, through the development of skills and institutional capacity in the Pacific developing member countries (PDMCs). |
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