Project Name Financial Sector Reforms
Project Number 47159-001
Country Myanmar
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8532-MYA: Financial Sector Reforms
Technical Assistance Special Fund US$ 1.00 million
TA 8532-MYA: Financial Sector Reforms (supplementary)
Technical Assistance Special Fund US$ 225,000.00
TA 8532-MYA: Financial Sector Reforms (Supplementary)
Technical Assistance Special Fund US$ 350,000.00
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
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome
Implementation Progress
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.

Geographical Location

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
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

Business Opportunities

Consulting Services

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 Staff

Responsible ADB Officer Kelly Hattel
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Central Bank of Myanmar
Office No.55, Nay Pyi Taw,
Myanmar

Timetable

Concept Clearance 16 Sep 2013
Fact Finding 17 Sep 2013 to 23 Sep 2013
MRM -
Approval 04 Dec 2013
Last Review Mission -
Last PDS Update 29 Sep 2014

TA 8532-MYA

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
04 Dec 2013 11 Feb 2014 11 Feb 2014 31 Dec 2015 31 Dec 2016 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
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

 
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