Regional: Capacity Building for Bond Market Development in ASEAN+3

Sovereign Project | 40213-012

Summary

The overall goal of the TA is to promote an efficient bond market in the region as this will lead to stable financial markets and sustained economic growth in ASEAN 3. Furthermore, bond markets play an important role in mobilizing capital for investments that are critical for economic development. This goal can be achieved by enhancing the capacity of officials from policy making institutions and supervisory agencies (such as ministries of finance, central banks, financial services authorities, and securities and exchange commissions) of DMCs in ASEAN 3 to promote appropriate policy measures for bond market development. As a result, this TA will not only provide policy makers with a deeper understanding of bond market regulatory and supervisory best practices, but will also equip them on how best to take appropriate actions (whether preventive or corrective measures) for varying market conditions given their extensive knowledge of how bond markets function.

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Project Name Capacity Building for Bond Market Development in ASEAN+3
Project Number 40213-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6453-REG: Capacity Building for Bond Market Development in ASEAN+3
Regional Cooperation and Integration Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Partnerships
Sector / Subsector Finance - Money and capital markets
Gender Equity and Mainstreaming No gender elements
Description The overall goal of the TA is to promote an efficient bond market in the region as this will lead to stable financial markets and sustained economic growth in ASEAN 3. Furthermore, bond markets play an important role in mobilizing capital for investments that are critical for economic development. This goal can be achieved by enhancing the capacity of officials from policy making institutions and supervisory agencies (such as ministries of finance, central banks, financial services authorities, and securities and exchange commissions) of DMCs in ASEAN 3 to promote appropriate policy measures for bond market development. As a result, this TA will not only provide policy makers with a deeper understanding of bond market regulatory and supervisory best practices, but will also equip them on how best to take appropriate actions (whether preventive or corrective measures) for varying market conditions given their extensive knowledge of how bond markets function. The TA aims to design and provide training courses programs for bond market development to enhance the knowledge and skills of capital market regulatory agencies. It also aims to provide a venue for regional policy dialogues and cross country consultations on bond market development issues. The expected outcomes are (i) support for multiple regional collaborative initiatives for capacity building in bond market development in targeted DMCs (ii) identify core strategic issues and training needs to be addressed in the programs and activities of the TA over a 3 year period and (iii) sustainable mechanisms for ensuring continuing training development at the country level. The TA complements efforts by OREI to (i) promote regional economic policy dialogue and (ii) support capacity building and institutional strengthening in the area of regional cooperation and integration. These training programs and course modules will enable participants to share experiences and explore appropriate policy measures for developing efficient domestic bond markets. The training program will cover ASEAN 3 member countries except Japan, Republic of Korea and Singapore.
Project Rationale and Linkage to Country/Regional Strategy
Impact Promote the development of efficient bond markets that will lead to a balanced financial sector, stable financial markets, and sustained economic growth in ASEAN+3
Project Outcome
Description of Outcome ASEAN+3 officials become more effective in enacting policies on bond market development
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Staff trained in the bond market, particularly on policy making

Support for the production of case studies

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location
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 yet to be determined.
Responsible ADB Officer Xinglan Hu
Responsible ADB Department Office of Regional Economic Integration
Responsible ADB Division Office of Regional Economic Integration
Executing Agencies
Asian Development BankChiemi Kaneko6 ADB Avenue, Mandaluyong City 1550, Philippines
Timetable
Concept Clearance 28 Apr 2006
Fact Finding 10 Mar 2008 to 24 Mar 2008
MRM -
Approval 28 Mar 2008
Last Review Mission -
PDS Creation Date 18 Jan 2008
Last PDS Update 07 Jun 2011

TA 6453-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
28 Mar 2008 - 28 Mar 2008 30 Nov 2010 31 Dec 2012 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
500,000.00 0.00 0.00 0.00 0.00 0.00 500,000.00 28 Mar 2008 342,208.60

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

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