Reform of Pension and Provident Funds in Selected Developing Member Countries
Reforming pension systems across Asia assumed a greater significance and urgency for the Asian Development Bank (ADB) in the wake of the economic and financial crisis that began in 1997. In response to the crisis, ADB exerted concerted effort to strengthen financial market institutions throughout Asia and to support activities intended to reduce the concentration of assets held in weak banking systems. A core element of this strategy included technical assistance (TA) grants intended to enlarge the role of pension funds in Asian capital markets.
This technical assistance performance audit report covers five TA grants - totaling $4.37 million, approved between November 1997 and December 1999 - that were intended to promote pension reform in:
- Bangladesh (TA 2915-BAN)
- Thailand (TA 2955- THA)
- Indonesia (TA 3116-INO)
- Uzbekistan (TA 3134-UZB)
- India (TA 3367- IND)
The rationale of these TAs was first and foremost to contribute to financial market development.