|Project Name||Financial Sector Reforms|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
|Sector / Subsector||
Finance - Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance
|Gender Equity and Mainstreaming|
|Project Rationale and Linkage to Country/Regional Strategy|
|Description of Outcome|
|Progress Toward Outcome|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)||
Under Output 1, the human resources development advisor, capacity development advisor and payments and settlements advisor have been engaged. A human resources needs assessment of the Central Bank of Myanmar has been conducted and a draft strategy for human resources development has been developed.
Under Output 2, the financial inclusion and financial literacy advisors have been engaged. Initial stakeholder consultations have been conducted and work has begun on development of a responsible finance strategy and a national strategy for financial literacy.
|Stakeholder Communication, Participation, and Consultation|
|During Project Design||
The project team consulted a range of development partners and local stakeholders during project design. At the Central Bank level: the International Monetary Fund (IMF); World Bank (WB); Japanese International Cooperation Agency (JICA); and Die Deutsche Gesellschaft f r Internationale Zusammenarbeit (GIZ) were consulted.
At the microfinance level: World Bank; PACT; GRET; World Vision; Save the Children; Myanmar Agriculture Development Bank (MADB); Ministry of Cooperatives; Central Cooperative Society; United Nations Capital Development Fund (UNCDF); the International Finance Corporation (IFC); the Myanmar Microfinance Association; UK Department for International Development (DFID); and the Livelihoods and Food Security Trust Fund (LIFT).
|During Project Implementation|
Under output 1, three international consultants (a capacity development advisor, human resources expert, and a payments and settlements expert) will be engaged through individual consultant selection to support the Central Bank of Myanmar (CBM) through a comprehensive Human Resources (HR) assessment, development of a short and long-term HR action plan, coordination of training and capacity building, and provision of strategic advice on payments and settlements.
Under output 2, two international consultants (financial inclusion advisor and financial literacy specialist) will be engaged through individual consultant selection to develop a framework for responsible finance, help strengthen the microfinance association, and develop a national strategy for financial literacy.
|Responsible ADB Officer||Kelly Hattel|
|Responsible ADB Department||Southeast Asia Department|
|Responsible ADB Division||Public Management, Financial Sector and Trade Division, SERD|
Central Bank of Myanmar
Office No.55, Nay Pyi Taw,
|Concept Clearance||16 Sep 2013|
|Fact Finding||17 Sep 2013 to 23 Sep 2013|
|Approval||04 Dec 2013|
|Last Review Mission||-|
|Last PDS Update||29 Sep 2014|
|Approval||Signing Date||Effectivity Date||Closing|
|04 Dec 2013||11 Feb 2014||11 Feb 2014||31 Dec 2015||31 Dec 2016||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|1,575,000.00||0.00||10,000.00||0.00||0.00||0.00||1,585,000.00||04 Dec 2013||935,032.64|