Bangladesh: Improvement of Capital Market and Insurance Governance TA Loan

Sovereign Project | 36197-013 Status:

Summary

Latest Project Documents

Consulting Notices See also: CMS

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Procurement Notices See also: Operational Procurement

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Procurement Documents


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Project Name Improvement of Capital Market and Insurance Governance TA Loan
Project Number 36197-013
Country Bangladesh
Project Status
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 2232-BAN: Improvement of Capital Market and Insurance Governance TA Loan
Asian Development Fund US$ 3.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Sector / Subsector

Finance - Insurance and contractual savings

Gender Equity and Mainstreaming Some gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome All the components: Bangladesh Securities and Exchange Commission (BSEC), Investment Corporation of Bangladesh (ICB), and Insurance Governance Regulatory Authority (IDRA) completed by lrevised oan closing date of 31 December 2012. Loan account will be closed by end April 2013.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

Consultants fielded and surveillance system installed.

Necessary training completed as planned and approved.

BICM established.

Two consultant reports submitted. Training manual and courses finalized. Planned local training completed.

Training manual and courses finalized.

SEC act amended incorporating training unit in the organogram.

Overseas training completed.

Training programs (domestic/overseas) completed.

A separate support was provided from staff consultancy budget to study the demutualization of stock exchanges.

Consultant submitted study report.

Revised rules have been submitted.

Completed.

BICM established.

Completed.

The management of ICB and board decided to implement the recommendations of the consultants.

The management of ICB and board decided to implement the recommendations of the consultants.

Partially completed due to time constrain of the project period after the appointment of Chairman and members of IDRA.

FR submitted and approved.

MIS was proposed in FR and procurement of the equipment completed.

completed.

Geographical Location Bangladesh

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

Consulting services will be engaged in 3 packages (two packages for consulting firms and one package for an individual consultant). A total of 53 person-months of international and 56 person-months of domestic consulting inputs will be financed. For the packages for consulting firms, the quality and cost-based selection method will be used. A full technical proposal will be used for part 1, while a simplified technical proposal will be used for part 2. A domestic financial and administrative consultant will be selected by the Executing Agency to help the project coordinator of the Project Monitoring Unit to implement the project. The breakdown of consulting inputs are as follows:

A. Part 1: Enhancement of Governance and Capacity of the Capital Market - Consulting Firm by QCBS

1. International Market Surveillance Systems Consultant (5 person-months)

2. Domestic Consultant (1 person-month)

3. International SEC/Exchange Skills Development and Training Consultant (6 person-months)

4. Domestic Training Consultant (6 person-months)

5. International Exchange Governance Expert (1.5 person-months)

6. International Capital Market Specialist (3.5 person-months)

7. Domestic Capital Market Specialist (3 person-months)

8. International Regulatory Consultant (3 person-months)

9. Domestic Regulatory Consultant (2 person-months)

10. International Securities Training Consultant (3 person-months)

11. Domestic Securities Training Consultant (3 person-months)

12. International Training Development Consultant (3 person-months)

13. Domestic Training Development Consultant (3 person-months)

14. International Accounting and Audit Specialist (4 person-months)

15. International Governance Expert (2 person-months)

B. Part 2: Enhancement of Governance and Capacity of the Insurance Sector - Consulting Firm by QCBS

16. International Insurance Capacity Building Specialist (6 person-months)

17. International Insurance Regulatory Specialist (5 person-months)

18. International Life Insurance Specialist (4 person-months); International General Insurance Specialist (4 person-months)

19. International Actuary (3 person-months)

20. Domestic Insurance Capacity Building Specialist (6 person-months)

21. Domestic Regulatory Specialist (4 person-months)

22. Domestic Insurance Specialist (4 person-months)

C. TA Loan Administration - Individual Consultant

23. Domestic Financial and Administrative Consultant (24 person-months)

Procurement

Procurement of goods and services will be in accordance with ADB's Guidelines for Procurement. Each supply contract for equipment, computers, or materials estimated to cost the equivalent of $500,000 or less (other than minor items) will be awarded on the basis of international shopping, and supply contracts valued at $100,000 equivalent or less may be procured based on local procedures under the government's Public Procurement Regulations, 2003 and which are acceptable to ADB.

Surveillance system equipment will be purchased through international shopping.

Responsible Staff

Responsible ADB Officer Bidyut Saha
Responsible ADB Department South Asia Department
Responsible ADB Division Bangladesh Resident Mission
Executing Agencies
Bank and Financial Institutions Division-MOF
Arijit Chowdhury
ARIJIT@FINANCE.GOV.BD
Bangladesh Secretariat
Dhaka-1000 Bangladesh

Timetable

Concept Clearance -
Fact Finding -
MRM -
Approval -
Last Review Mission -
PDS Creation Date 27 Sep 2006
Last PDS Update 21 Mar 2013

Loan 2232-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
09 Mar 2006 07 Feb 2007 23 May 2007 30 Jun 2008 31 Dec 2012 19 May 2013
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 4.00 Cumulative Contract Awards
ADB 3.00 09 Mar 2006 2.28 0.00 99%
Counterpart 1.00 Cumulative Disbursements
Cofinancing 0.00 09 Mar 2006 2.30 0.00 100%
Status of Covenants
Category Sector Safeguards Social Financial Economic Others
Rating - - - - - Satisfactory

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

Title Document Type Document Date
Bangladesh: Improvement of Capital Market and Insurance Governance Project Validations of Project Completion Reports Sep 2015

Related Publications

None currently available.


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