Bangladesh: Developing Inclusive Insurance Sector Project

Sovereign Project | 41671-022 Status: Closed

Summary

Latest Project Documents


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Project Name Developing Inclusive Insurance Sector Project
Project Number 41671-022
Country Bangladesh
Project Status Closed
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 9129-BAN: Developing Inclusive Insurance Sector Project
Japan Fund for Poverty Reduction US$ 2.00 million
Strategic Agendas Environmentally sustainable growth
Drivers of Change Partnerships
Sector / Subsector

Finance - Insurance and contractual savings

Gender Equity and Mainstreaming Gender equity
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome --
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

This is an ongoing process. Substantial work has already been undertaken in this area.

The market assessment was finalized on Dec 2011 and the report was finalized by the consultant by Mar 2012, which is one of the most inclusive surveys undertaken in Bangladesh.

The market assessment was finalized on Dec 2011 and the report was finalized by the consultant by Mar 2012, which is one of the most inclusive surveys undertaken in Bangladesh.

The microinsurance pilot has been launced for 3 micro-insurance products in September 2013 and has been finalized in December 2014.

To be initiated in one and two years after the end of the project

Geographical Location Bangladesh

Safeguard Categories

Environment C
Involuntary Resettlement C
Indigenous Peoples C

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design During the project design phase, extensive donor consultations were held with the Japan Bank for International Cooperation, Japan International Cooperation Agency, Department for International Development of the United Kingdom, German Development Cooperation through GTZ, and International Fund for Agricultural Development of the United Nations; their comments and suggestions were incorporated in the project design.
During Project Implementation

Business Opportunities

Consulting Services A consultant selection committee to be established for this Project will comprise representatives from the Ministry of Finance, PKSF, and other relevant government agencies. The committee will recruit the following consultants as outlined in ADB's procedures for recruiting individual consultants in accordance with its Guidelines on the Use of Consultants (2007, as amended from time to time): (i) International consultants: (a) microinsurance product development specialist (2 person-months), and (b) microinsurance legal specialist (2 person-months); (ii) National consultants: (a) project coordinator (24 person-months), (b) project facilitators (24 x 2 person-months), and (c) actuary (2 person-months).
Procurement PKSF, on behalf of the EA, will procure the equipment. All procurement will be carried out in accordance with ADB's Procurement Guidelines (2007, as amended from time to time).

Responsible Staff

Responsible ADB Officer Natalie Bertsch
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Ministry of Finance
Mr. Saifuddin Ahmed
Ministry of Finance, Dhaka-1000, Bangladesh

Timetable

Concept Clearance 18 Oct 2007
Fact Finding 16 Mar 2007 to 21 Mar 2007
MRM -
Approval -
Last Review Mission -
PDS Creation Date 19 Jan 2010
Last PDS Update 16 Mar 2015

Grant 9129-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
27 Jan 2009 07 Jan 2010 07 Jan 2010 31 Dec 2011 31 Dec 2014 01 Jul 2015
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 2.11 Cumulative Contract Awards
ADB 0.00 27 Jan 2009 0.00 1.08 93%
Counterpart 0.11 Cumulative Disbursements
Cofinancing 2.00 27 Jan 2009 0.00 1.08 93%
Title Document Type Document Date
Developing Inclusive Insurance Sector Project: Implementation Completion Memorandum Implementation Completion Memorandum Jul 2016
Developing Inclusive Insurance Sector Project Design and Monitoring Frameworks Nov 2008

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

None currently available.

Related Publications

Title Document Type Document Date
Developing Microinsurance Sector in Bangladesh Papers and Briefs Jul 2011

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