Cambodia: Second Financial Sector Program Cluster - Subprogram 3 (SF)

Sovereign Project | 34389-033

Summary

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Project Name Second Financial Sector Program Cluster - Subprogram 3 (SF)
Project Number 34389-033
Country Cambodia
Project Status Closed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 2585-CAM: Second Financial Sector Program Cluster - Subprogram 3 (SF)
Asian Development Fund US$ 10.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

Finance - Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Money and capital markets

Gender Equity and Mainstreaming
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact To promote the development of a sound, market-based financial system to enhance resource moblization and support sustainable economic growth.
Project Outcome
Description of Outcome A growing, resilient, and efficient financial system.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs Improve confidence and financial intermediation by: (i) NBC adopting the updated roadmap for upgrading the payment system and implement the 2009 activities, (ii) NBC issuing a regulation covering interbank repurchase agreement for valuable papers, (iii) NBC introducing regulations to facilitate MFIs access to voluntary deposits from the general public and enhance the provision of credits to MFIs by domestic commercial banks; maintain stability in the financial system by (iv) NBC submitting the amendment law on banking and financial institutions to the Council of Ministers, (v) NBC requiring banks to comply with applicable Basel I core principles for effective bank supervision, (vi) NBC developing a code of conduct for registered moneychangers, (vii) MOC submitting the draft commercial contract law to the Council of Ministers; promote good governance by (viii) MEF submitting the draft revised insurance law to the CoM, (ix) MOC establishing the national arbitration center with appropriate rules and procedures, (x) MEF continuing to provide 70 CPA scholarships annually; and enhance efficiency by (xi) NBC installing the integrated computer systems for its key operating functions and undertake relevant training staff.
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location National
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services -
Procurement The loan proceeds will be used to finance the full foreign exchange costs (excluding local duties and taxes) of items produced and procured in ADB member countries, excluding ineligible items and imports financed by other bilateral and multilateral sources. All procurement of goods and services produced in, and originating from, ADB member countries, will be made wtih due consideration to economy and efficiency, in accordance with standard public procedures in Cambodia and normal private sector commercial practicies acceptable to ADB. In accordance with the provisions of ADB's Simplification of Disbursement Procedures and Related Requirements for Program Loans (1998), the loan proceeds will be disbursed to the Kingdom of Cambodia as the Borrower.
Responsible ADB Officer Samiuela T. Tukuafu
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
National Bank of CambodiaP.O. Box 25
22-24 Norodom Blvd.
Phnom Penh, Cambodia
Timetable
Concept Clearance 06 Dec 2007
Fact Finding 21 Apr 2009 to 29 Apr 2009
MRM 13 Jul 2009
Approval 26 Nov 2009
Last Review Mission -
PDS Creation Date 09 Jun 2009
Last PDS Update 15 Apr 2010

Loan 2585-CAM

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
26 Nov 2009 27 Dec 2009 25 Feb 2010 30 Apr 2010 - 05 Mar 2010
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 10.00 Cumulative Contract Awards
ADB 10.00 26 Nov 2009 9.61 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 26 Nov 2009 9.61 0.00 100%

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


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