Regional: Enhancing the Capacity of Selected ASEAN+3 Countries for Assessing Financial Vulnerabilities

Sovereign Project | 40565-012

Summary

The objective of the TA is to strengthen regional monitoring of economic and financial systems. Identification of systemic financial and economic risks will increase the probability of early detection of possible crises and permit timely policy action to prevent or mitigate a crisis. Regional monitoring will be strengthened by more informed and higher quality discussions at Technical working Group on Economic and Financial Monitoring (ETWG), Finance Ministers' Meeting (FMM), and other regional forums. The development of a systematic approach for assessing regional financial vulnerability will establish a common framework for regional surveillance and discussion of potential vulnerabilities. Moreover, the collective process of developing such a systematic approach will itself strengthen the cooperative experience. An important element of the approach will be an enhanced and organic VIEWS package that adapts to new conditions while still serving as a prototype for NSUs.

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Project Name Enhancing the Capacity of Selected ASEAN+3 Countries for Assessing Financial Vulnerabilities
Project Number 40565-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6391-REG: Enhancing the Capacity of Selected ASEAN+3 Countries for Assessing Financial Vulnerabilities
Japan Special Fund US$ 600,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Sector / Subsector Public sector management - Public expenditure and fiscal management
Gender Equity and Mainstreaming
Description The objective of the TA is to strengthen regional monitoring of economic and financial systems. Identification of systemic financial and economic risks will increase the probability of early detection of possible crises and permit timely policy action to prevent or mitigate a crisis. Regional monitoring will be strengthened by more informed and higher quality discussions at Technical working Group on Economic and Financial Monitoring (ETWG), Finance Ministers' Meeting (FMM), and other regional forums. The development of a systematic approach for assessing regional financial vulnerability will establish a common framework for regional surveillance and discussion of potential vulnerabilities. Moreover, the collective process of developing such a systematic approach will itself strengthen the cooperative experience. An important element of the approach will be an enhanced and organic VIEWS package that adapts to new conditions while still serving as a prototype for NSUs. This prototype VIEWS can provide a quantitative basis for discussions of regional vulnerabilities. Through support for strong, evolving quantitative inputs into national and regional surveillance systems, as well as qualitative discussions at ETWG meetings, the TA will provide significant value to regional efforts to monitor vulnerability of economic and financial systems. This will complement other ADB assistance (noted above) that targets improvements in qualitative inputs through training programs in economic and financial monitoring for officials at finance ministries and central banks. Starting with a comprehensive review of the VIEWS package, including the set of macroprudential indicators and the methodological approach, an enhanced VIEWS package will evolve as an outcome of the ongoing and collaborative ADB and EWTG efforts
Project Rationale and Linkage to Country/Regional Strategy
Impact

Enhanced regional monitoring of economic and financial systems

Increased capacity to provide early warnings and mitigation of financial crises

Project Outcome
Description of Outcome Development of a systematic approach to regional financial vulnerability
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Relevant quality and peer-reviewed assessment of financial vulnerability

Advanced version of VIEWS

Improved indicator set for vulnerability assessment

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 Invididual consultants 11 person months of international consultants 24 person months of national consultants
Responsible ADB Officer Lei Lei Song
Responsible ADB Department Economic Research and Regional Cooperation Department
Responsible ADB Division ERCI
Executing Agencies
Asian Development BankLei Lei Songlsong@adb.org6 ADB Avenue Mandaluyong City Metro Manila Philippines
Timetable
Concept Clearance 06 Sep 2006
Fact Finding 11 Mar 2007 to 25 Mar 2007
MRM -
Approval 29 Mar 2007
Last Review Mission -
PDS Creation Date 16 Jul 2010
Last PDS Update 19 Oct 2010

TA 6391-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
29 Mar 2007 - 29 Mar 2007 31 Mar 2009 30 Jun 2014 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
600,000.00 0.00 100,000.00 0.00 0.00 0.00 700,000.00 29 Mar 2007 480,526.80

Safeguard Documents

See also: Safeguards

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Evaluation Documents

See also: Independent Evaluation

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