Regional: ASEAN+3 Regional Guarantee and Investment Mechanism (Phase 3)

Sovereign Project | 40222-012

Summary

The expected impact of the TA is a more integrated and stronger regional financial system by helping to (i) reduce borrowers' dependency on the banking system and by minimizing currency and maturity mismatches, and (ii) facilitate cross border bond issuance. The objective of the TA is a smooth and timely establishment of CGIM and prompt commencement of operations on the basis of the proposed business plan drawn up in Phase II and subsequent agreements reached by the ASEAN 3 members.

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Project Name ASEAN+3 Regional Guarantee and Investment Mechanism (Phase 3)
Project Number 40222-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7477-REG: ASEAN+3 Regional Guarantee and Investment Mechanism (Phase 3)
Investment Climate Facilitation Fund under RCIFPF US$ 1.37 million
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Private sector development
Sector / Subsector Finance - Finance sector development - Infrastructure finance and investment funds - Money and capital markets
Gender Equity and Mainstreaming
Description The expected impact of the TA is a more integrated and stronger regional financial system by helping to (i) reduce borrowers' dependency on the banking system and by minimizing currency and maturity mismatches, and (ii) facilitate cross border bond issuance. The objective of the TA is a smooth and timely establishment of CGIM and prompt commencement of operations on the basis of the proposed business plan drawn up in Phase II and subsequent agreements reached by the ASEAN 3 members.
Project Rationale and Linkage to Country/Regional Strategy
Impact The expected impact of the TA is a more integrated and stronger regional financial system by helping to (i) reduce borrowers' dependency on the banking system and by minimizing currency and maturity mismatches, and (ii) facilitate cross border bond issuance.
Project Outcome
Description of Outcome The objective of the TA is a smooth and timely establishment of CGIM and prompt commencement of operations on the basis of the proposed business plan drawn up in Phase II and subsequent agreements reached by the ASEAN 3 members.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs 1. Organization of capital subscriptions and their payment 2. Development of financial statements and related documents 3. Acquiring international AAA credit rating 4. Recruitment of CGIM staff 5. Road show on CGIM 6. Purchase of basic office equipment and payment to other service providers
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 A. International Consultants 1. Financial sector specialist (international, 8 person months) 2. Recruitment specialist (international, 6 person months) 3. Accountant (international, 4 person months) 4. Legal Expert (international, 4 person months) 5. IT Specialist (international, 4 person months) B. Domestic Consultants 1. Domestic consultants a financial sector specialist (6 person months), accountant (6 person months), legal expert (6 person months), IT specialist (6 person months) will provide support for the international consultants' completion of their respective tasks.
Responsible ADB Officer Avonechith Siackhachanh
Responsible ADB Department Office of Regional Economic Integration
Responsible ADB Division Office of Regional Economic Integration
Executing Agencies
Asian Development BankA. Noy Siackhachanh6 ADB Avenue, Mandaluyong City 1550, Philippines
Timetable
Concept Clearance 29 Apr 2009
Fact Finding 11 Mar 2009 to 25 Mar 2009
MRM -
Approval 21 Dec 2009
Last Review Mission -
Last PDS Update 19 Apr 2010

TA 7477-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Dec 2009 - 21 Dec 2009 30 Jun 2011 30 Sep 2013 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
0.00 1,370,000.00 0.00 0.00 0.00 0.00 1,370,000.00 21 Dec 2009 1,369,044.84

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


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