Project Data Sheet

Project Data Sheets (PDS) contain summary information on the project or program: Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

PDS Creation Date
PDS Updated as of 11 Sep 2014

Project Name Capacity Development to Support Regulation and Oversight at the Insurance Commission
Country Philippines
Project/Program Number 47207-001
Status Approved
Geographical Location
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
Sector Finance
Subsector Insurance and contractual savings
Strategic Agendas Inclusive economic growth (IEG)
Drivers of Change Governance and capacity development (GCD)
Gender Equity and Mainstreaming Categories

Financing

Type/Modality of Assistance Approval Number Source of Funding Approved Amount (thousand)
Technical Assistance8608Technical Assistance Special Fund225
TOTAL US$ 225

Summary of Environmental and Social Issues

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples

Stakeholder Communication, Participation and Consultation

During Project Design
During Project Implementation

Description

Project Rationale and Linkage to Country/Regional Strategy

To assist with the timely implementation of the Insurance Code, and strengthen the supervisory functions of the regulator, the Insurance Commissioner has identified the following areas for capacity building: (i) knowledge and skills training on the risk-based capital requirements; (ii) upgrading of the Insurance Commission s IT to support the risk-based regulatory framework consistent with international standards. The capacity building will strengthen the ability of the examination teams to systematically review the insurance sector and monitor the activities of individual companies from licensing to financial analysis. The Insurance Commissioner has also identified training requirements on (iii) supervision of self-regulating industry organizations; (iv) training on ADR which will be considered as possible, by the TA.

Development Impact

Project Outcome

Description of Outcome
Progress Towards Outcome

Outputs and Implementation Progress

Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Status of Development Objectives
Material Changes

Business Opportunities

Date of First Listing 2013 Dec 10
Consulting Services
International Risk-Based Supervision and Examination Expert (Insurance) International IT and Supervisory Reporting Expert (Banking and Insurance)
Procurement
Procurement and Consulting Notices
http://www.adb.org/projects/47207-001/business-opportunities

Timetable

Concept Clearance
Fact-finding 01 Jul 2013 to 05 Jul 2013
Management Review Meeting
Approval 13 Dec 2013
Last Review Mission

Milestones

Approval No. Approval Signing Effectivity Closing
Original Revised Actual
Technical Assistance 8608 13 Dec 2013 13 Dec 2013 30 Sep 2014

Utilization

Date Approval Number ADB (US$ thousand) Others (US$ thousand) Net Percentage
Cumulative Contract Awards
Cumulative Disbursements

TA Amount (US$ thousand)

Approval Number Approved Amount Revised Amount Total Commitment Uncommitted Balance Total Disbursement Undisbursed Balance
Technical Assistance 8608 225 225 0 225 0 225

Contacts and Update Details

Responsible ADB Officer Madeleine Varkay (mvarkay@adb.org)
Responsible ADB Department Southeast Asia Department
Responsible ADB Divisions Public Management, Financial Sector and Trade Division, SERD
Executing Agencies

Links

Project Website http://www.adb.org/projects/47207-001/main
List of Project Documents http://www.adb.org/projects/47207-001/documents