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p. 18 of 19 BACK | NEXT I. Executive Summary II. The Policy Context III. International Efforts to Combat Money Laundering and the Financing of Terrorism IV. The Policy V. Implementing the Policy A. Implementation and Monitoring B. Review of the Policy C. Resource Implications VI. Recommendation

Enhancing the Asian Development Bank's Role in Combating Money Laundering and the Financing of Terrorism : V. Implementing the Policy

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C. Resource Implications

82. Implementation of the policy will require staff resources. Though ADB has managed to address the AML/CFT matter without additional staff resources, the amount of work has continued to increase during the past few years, and it is now imperative to formally allocate resources to ensure smooth and undisrupted policy implementation. It is deemed appropriate to allocate the additional staff resources in RSDD and OGC, which will together centrally coordinate and support the regional departments’ assistance to DMCs, rather than to allocate additional resources to each of the five regional departments. For this reason, two additional staff positions (one in RSDD and one in OGC) will be required to carry out each department's responsibilities mentioned above. To secure a smooth start of the policy implementation, these additional positions should be initially accommodated through redeployment of existing staff where possible. In addition, it is envisaged that a total of 10 person-months of staff consultants will be required for the first year (2003) to help the staff address some initial tasks to start implementation of the policy, including training of relevant staff.²⁶ The estimate of the administrative cost deemed necessary is attached as Appendix 4. At the same time, under the current budgetary constraint, ADB should make best efforts to produce maximum outputs from the limited number of resources by enhanced policy dialogue with DMCs and strategic cooperation with other aid agencies.

83. Where assistance through TA is appropriate, TA resources are also required. As discussed earlier, whether assistance should be provided through loans, TA loans, or TA grants will be judged, taking into account the overall context of the DMC.

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