## The IMF’s COVID-19 Crisis Capacity Development Initiative — Report on Activities as of March 18, 2021

## Source details

**Canonical URL:** [The IMF’s COVID-19 Crisis Capacity Development Initiative — Report on Activities as of March 18, 2021](https://www.imf.org/-/media/files/capacity-developement/cccdi/cccdi-report-march-2021.pdf)

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- [Markdown version](/-/media/files/capacity-developement/cccdi/cccdi-report-march-2021.pdf.md)
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### Initiative launch and purpose
- The COVID-19 Crisis Capacity Development Initiative (CCCDI) was launched in June 2020 by IMF Managing Director Kristalina Georgieva to help meet countries’ urgent capacity development needs and boost the IMF’s response to the crisis.
- Initiative themes include: halting inequality and boosting inclusive growth; governance and accountability in the crisis response; incorporating climate indicators into macroeconomic frameworks to support a green recovery; and leveraging digitalization and high frequency data.
- The inaugural meeting of the Coordination Committee of the CCCDI was held on March 18, 2021 to update partners and discuss the work program.
- At the time of the Coordination Committee meeting, roughly $25 million of the targeted $100 million for the Initiative had been raised.

### Financial update and workplan implementation
- The first workplan of the CCCDI will begin implementation May 1, 2021 following finalization within the RBM system.
- As of March 18, 2021, the first workplan of USD$9.05m has been circulated.
- Of the US$9.6m received into the subaccount at present, US$9.05m has been programmed.
- Liquidity within the CCCDI subaccount is sufficient to finance the workplan; additional partners and contributions will enable augmented workplans.
- The final budget estimates for RCDC workstreams and standalone projects may vary slightly from the amounts circulated once final project plans and detailed budget calculations are entered into CDMAP.

### Accountability, reporting, and oversight
- Quarterly Coordination Committee meetings will present case studies, discuss emerging issues, and provide insight from delivering project managers and beneficiary authorities; initial meetings will be predominantly forward looking, moving toward results-based reporting as implementation ramps up.
- Monthly financial statements and detailed project proposals will be available on the Partners Connect platform.
- Annual reporting will include a CCCDI specific summary and overview, narrative reports for standalone projects, and annual reports of RCDCs where workstreams are financed by the Initiative.
- COVID-19 related projects financed by the Japanese and Swiss subaccounts, which run adjacent to the CCCDI subaccount, will be included in reporting.
- Any external evaluations of RCDCs during the Initiative will be circulated to partners.
- The audit of the CCCDI subaccount takes place within the regular audit of the IMF, where the Selected Fund Activities subaccount as a whole is audited.

### First workplan (CCCDI subaccount) — key capacity development activities and budget envelopes (USD, in millions)
- Africa (Eritrea, Ethiopia, Kenya, Malawi, Rwanda, Tanzania (including Zanzibar), and Uganda): Revenue Mobilization, PFM, Monetary Policy and Foreign Exchange, Financial Sector Supervision, Statistics and High Frequency Data for Nowcasting, Cybersecurity — RCDC AFE — 2.50
- Africa (Sub-Saharan Africa): Capacity development on greening macro-frameworks, debt management, and improved forecasting — RTC ATI — 0.75
- Support countries to integrate gender related issues in annual and medium term budget processes given devastating impact of COVID19 on women — RCDC AFW — 2.0
- Trade facilitation, border controls, risk management, safeguarding revenues and business continuity — RCDC AFW — 0.54
- Incorporate Climate into infrastructure and appraisal (Ghana) — RCDC AFW — 0.30
- Africa (Angola, Botswana, Comoros, eSwatini, Lesotho, Madagascar, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Zambia, and Zimbabwe): Business Continuity and Disaster Recovery Assistance — RCDC AFS — 0.41
- Integrate debt management and cash management to exit from COVID19 crisis — RCDC AFW — 0.12
- Collection of statistics and data related to COVID19 and public policy response to the crisis — RCDC AFW — 0.04
- Assessing credit risks at Banks affected by the crisis — RCDC AFW — 0.03
- Exiting from the crisis - financial supervision and regulation — RCDC AFW — 0.02
- Nicaragua, Honduras, El Salvador, and the Dominican Republic: Training for officials in 4 countries focused on improved macro-fiscal forecasting to address crisis — RCDC CAPTAC-DR — 0.50
- Central America, Panama, Dominican Republic: Improve tax administration and compliance to boost domestic revenues and promote more inclusive growth — RCDC CAPTAC-DR — 0.08
- Morocco: Forecasting Policy and Analysis — Standalone project — 0.33
- Afghanistan, Algeria, Djibouti, Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, Sudan, Syria, Tunisia, West Bank & Gaza, Yemen: Boost domestic revenues impacted by COVID — RCDC METAC — 0.31
- Jordan: PFM, Cash Management, addressing Liquidity Pressures — Standalone project — 0.10
- Tajikistan: Strengthen tax administration and tax collection — Standalone project — 0.06
- Yemen: Strengthen core tax functions impacted by crisis — Standalone project — 0.02
- Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka: Work with 6 member countries to assess cyber-regulatory frameworks to strengthen financial and payment systems in the face of greater cyber-risks — RCDC - SARTTAC — 0.05

Focus-area standalone projects (global)
- Supreme Audit Institutions (Global - select RCF/RFI recipient countries): Build capacity of supreme audit institutions to make reports on emergency spending more transparent and accountable — Standalone project — 1.23
- Tax Policy (Global LICs, MICs, EMEs): Better manage domestic revenue mobilization given COVID; tax policy changes to ensure equity and fairness of tax systems, reforms — Standalone project — 1.10
- Expenditure Policy (Global LICs, MICs): Capacity Development for Ministries of Finance evaluating public spending allocations, adequacy, efficiency and sustainability of funds, with a focus on SDGs — Standalone project — 0.55

- TOTAL (workplan covered only projects financed by CCCDI subaccount): 9.05

### Cash flow statement and contributions (as of February 28, 2021)
- FY 2021 contributions received into CCCDI Subaccount: 9.6
- FY 2022 projections contributions: 3.6
- Total cash available: 13.3
- Interest earned: 0.0
- Estimated workplan as of March 31, 2021: 9.1
- Cash balance: 4.2
- Contributions disbursed into CCCDI Subaccount (total agreement amount): 13.3; US$ Received: 9.6; Future Contribution: 3.6
- Germany (agreement signed 1/5/2021): EUR 6.0; US$ Received: 7.3; Future Contribution: 3.6; Note shows -3.6 under a column indicating transfers/returns
- Korea (agreement signed 2/17/2021): USD 4.0; US$ Received: 4.0
- Spain (agreement signed 12/22/2020): USD 2.0; US$ Received: 2.0
- Contributions disbursed through other subaccounts: 12.1; US$ Received: 10.0
- Japan (through Japan subaccount; agreement signed 11/26/2020): USD 10.0; US$ Received: 10.0
- Switzerland (through CCAMTAC and Swiss Pledged): CHF 2.0; US$ Received: 2.1; exact amount to be confirmed
- Total all contributions to CCCDI (FY 2021 - FY 2023): 25.4 total agreement/amendment amount; US$ Received: 19.6; Future Contribution: 3.6

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_Source: https://www.imf.org/-/media/files/capacity-developement/cccdi/cccdi-report-march-2021.pdf_