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Invitation for Submission of Expressions of Interest
Project Name: Loan NO. 2253-LAO: Rural Finance Sector Development Project
(This Notice is for the Component on Capacity Building of the Agriculture Promotion Bank)
Executing Agency:
Bank of the Lao People's Democratic Republic
Contact : Mdme. Sengdao Bouphakonekham
Fax. No. : 856 21 238192
E-mail : Sengdaobol@bol.gov.la
Tel. No. : 856 21 911450; 917689
Address : Yonnet Road, Vientiane
Lao PDR
P.O. Box 19
Amount (US$): 1,166,600.00
(for the component on Capacity Building of the Agriculture Promotion Bank)
Project Officer:
Vicky C.L. Tan
Financial Management Specialist
vctan@adb.org
Recruitment of Consultants:
Expressions of Interest will be accepted until 15 January 2007.
Objectives and Scope:
The Project loan's objective is to promote a sustainable and market-oriented rural and microfinance sector. It will contribute to achievement of this objective by assisting the Government to - build the Bank of Lao PDR's (BOL) micro-finance institution (MFI) supervision capacity,
- support the Agriculture Promotion Bank (APB) to complete the capacity building components of the APB Restructuring Plan begun under ADB TA cluster 3413, and
- upgrade APB's ICT system.
This Notice relates to the second component of the Project Loan.
Capacity Building Under APB's Restructuring Plan
The project loan will finance the engagement of an international banking advisor (IBA) and two domestic administrator/banking assistants (ABAs) to assist APB to complete the restructuring program in accordance with the APB Governance Agreement.
The IBA and ABAs will assist to review, revise, develop, implement, and monitor modern banking policies, systems, and procedures that will allow APB management to make commercially oriented banking decisions in the best interests of APB. The IBA and ABAs will place special emphasis on improved risk management, NPL resolution, and credit risks, policies, and procedures to stop loss-making activities. In carrying out his/her specific duties, the IBA will coach and train APB's directors, management, and staff to build capacity in APB.
APB will also receive specialized assistance to review its accounting policies and procedures. It will modify and document in manuals its policies and procedures in accordance with the detailed recommendations of the diagnostic review carried out under subproject 2 of the TA cluster and the management letters from its recent financial audits.
APB will revise and document its accounting standards and amend them to include - accounting on an accruals basis,
- identifying and transferring NPLs to designated overdue ledger accounts on a timely basis,
- writing off bad debts,
- adjusting reserves to reflect the net asset position,
- making provisions on guarantees and commitments for potential losses similar to any other extension of credit,
- depreciating fixed assets over their estimated useful lives,
- valuing inventories at the lower of cost and net realizable value,
- undertaking periodic stock counts and reconciling these with accounting records,
- investigating discrepancies in stock count reconciliation, and
- adopting full liability accounting for income taxes and deferred taxation.
Consulting Services Required:
42 person-months of international consulting services will be provided by an IBA (36 person-months) and an accounting and MIS specialist (6 person-months); and 72 person-months of national consulting services will be provided by two ABAs (36 person-months each). Consultants will be recruited in accordance with ADB's ADB's Guidelines on the Use of Consultants by Asian Development Bank and Its Borrowers dated April 2006 and following ADB's quality- and cost-based selection method. The simplified technical proposal format will be used.
The simplified technical proposal format will be used. Read the Detailed Terms of Reference.
Implementation Period:
Over a period of 4 years
Read the full text of ADB's assistance to the Lao People's Democratic Republic for the Rural Financial Sector Development Program approved on 17 August 2006.
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