Vanuatu: Expanding Access to Financial Services

Sovereign Project | 40148-012

Summary

This TA will assist in expanding the delivery of sustainable financial services to a broader range of rural people, thereby facilitating their participation in income generating activities and contribution to overall economic growth. Specifically, the TA will support National Bank of Vanuatu (NBV) with the introduction of a new business model involving appointment a network of bank agents in rural communities beyond the reach of present NBV branches. Equipped with appropriate technology and communications equipment, these agents will enable much of the presently un-banked rural population to establish and conveniently operate savings accounts and utilize account transaction facilities. This wider access to savings facilities is expected, in turn, to facilitate further expansion of the rural micro-lending activities of NBV that have been successfully introduced with the support of previous ADB TA.

Latest Project Documents


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.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

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.

Project Name Expanding Access to Financial Services
Project Number 40148-012
Country Vanuatu
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7023-VAN: Expanding Access to Financial Services
Japan Special Fund US$ 600,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector Finance - Finance sector development
Gender Equity and Mainstreaming No gender elements
Description This TA will assist in expanding the delivery of sustainable financial services to a broader range of rural people, thereby facilitating their participation in income generating activities and contribution to overall economic growth. Specifically, the TA will support National Bank of Vanuatu (NBV) with the introduction of a new business model involving appointment a network of bank agents in rural communities beyond the reach of present NBV branches. Equipped with appropriate technology and communications equipment, these agents will enable much of the presently un-banked rural population to establish and conveniently operate savings accounts and utilize account transaction facilities. This wider access to savings facilities is expected, in turn, to facilitate further expansion of the rural micro-lending activities of NBV that have been successfully introduced with the support of previous ADB TA.
Project Rationale and Linkage to Country/Regional Strategy This assistance is consistent with the Government's Priorities and Action Agenda, which encourages economic growth, addresses low private sector investment, and reduces unemployment. It is also consistent with ADB's Pacific Strategy 2005-2009, and is included in the country strategy and program update 2006-2009. The Government concurs with the TA's objectives, scope, implementation arrangements, cost, financing arrangements and terms of reference.
Impact
Project Outcome
Description of Outcome
Progress Toward Outcome
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Various locations in rural Vanuatu
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 of a total 10 person-months (international) comprised of a microfinance development expert (4 person-months), a microfinance technology expert (4 person-months) and a microfinance development and training expert (2 person-months) will be required for implementation of the TA. The consultant team will be drawn from a firm with expertise in the development and application of technology in microfinance enterprises. In view of the high level of NBV staff involvement in project management and implementation, there is no requirement for local consulting input under the TA.
Responsible ADB Officer Elvira Rustamova
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Liaison and Coordination Office in Sydney, Australia
Executing Agencies
Ministry of Finance & Economic ManagementMr. George Maniurigmaniuri@vanuatu.gov.vuPMB 9058 Port Vila, Vanuatu
Timetable
Concept Clearance 16 Jul 2007
Fact Finding 16 Jul 2007 to 24 Jul 2007
MRM -
Approval 12 Dec 2007
Last Review Mission -
PDS Creation Date 12 Jun 2008
Last PDS Update 13 Jan 2011

TA 7023-VAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
12 Dec 2007 29 Jan 2008 29 Jan 2008 30 Sep 2010 31 Dec 2011 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
600,000.00 0.00 150,000.00 0.00 0.00 0.00 750,000.00 12 Dec 2007 540,301.36
Title Document Type Document Date
Expanding Access to Financial Services TA Completion Reports Apr 2012
Expanding Access to Financial Services (Financed by the Japan Special Fund) Technical Assistance Reports Dec 2007

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.