Bangladesh: Institutional Support for Migrant Workers' Remittances

Sovereign Project | 42149-012

Summary

The objective of the proposed Project is to maximize the benefits, and reduce the risks of remittances in order to improve the welfare of migrant workers and their families, especially poor rural households.

Latest Project Documents

Consulting Notices

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Procurement Notices

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Procurement Documents


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Project Name Institutional Support for Migrant Workers' Remittances
Project Number 42149-012
Country Bangladesh
Project Status Approved
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant 9153-BAN: Institutional Support for Migrant Workers' Remittances
Japan Fund for Poverty Reduction US$ 2.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Partnerships
Sector / Subsector

Finance - Inclusive finance

Gender Equity and Mainstreaming Effective gender mainstreaming
Description The objective of the proposed Project is to maximize the benefits, and reduce the risks of remittances in order to improve the welfare of migrant workers and their families, especially poor rural households.
Project Rationale and Linkage to Country/Regional Strategy The objective of the proposed Project is to maximize the benefits, and reduce the risks of remittances in order to improve the welfare of migrant workers and their families, especially poor rural households by providing institutional support for the promotion of formal and semi-formal remittance services and other support services using the country?s well-established microfinance network. The proposed Project is in line with developing inclusive economic growth and empowerment of the poor in the Country Strategy for Bangladesh (2006-2010).
Impact Sustainable welfare improvement and poverty reduction of migrant workers' households
Project Outcome
Description of Outcome Increased use of formal remittance and investments by migrant workers and their households in project targeted areas
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

A. Remittance and Investment Opportunities Development for the Rural Poor

B. Remittance Information Dissemination and Awareness Creation

C. Enterprise Development Support for Migrant Workers' Households

Status of Implementation Progress (Outputs, Activities, and Issues)

Procurement for Component A was finalized in August 2014 and contract between the vendor and Bangladesh Bank was signed in November 2014. Required hardware has been shipped and are expected to arrive in Dhaka in March 2015.

Engagement of consultants will commence soon.

Geographical Location Bangladesh
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects No negative environmental issues are expected.
Involuntary Resettlement No involuntarry resettlement issues are expected.
Indigenous Peoples The real-time gross settlement system will make the fastest possible money transfer system through the banking channel of migrant workers including indigenous peoples.
Stakeholder Communication, Participation, and Consultation
During Project Design tbd
During Project Implementation tbd
Business Opportunities
Consulting Services Consultants will be recruited according to ADB's Guidelines on the Use of Consultants (2010, as amended from time to time).
Procurement All procurement under the Japan Fund for Poverty Reduction (JFPR) grant will conform to ADB's Procurement Guidelines (2010, as amended from time to time).
Responsible ADB Officer Mayumi Ozaki
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Ministry of FinanceEconomic Relations Division (ERD), MOF
Sher-e-Bangla Nagar, Dhaka_1207
Bangladesh
Timetable
Concept Clearance 19 May 2008
Fact Finding 07 Jul 2008 to 17 Jul 2008
MRM -
Approval 18 Jan 2011
Last Review Mission -
PDS Creation Date 20 Jun 2008
Last PDS Update 10 Mar 2015

Grant 9153-BAN

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
18 Jan 2011 18 Jan 2012 18 Jan 2012 18 Jan 2015 15 Jan 2016 -
Financing Plan Grant Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 2.00 Cumulative Contract Awards
ADB 0.00 18 Jan 2011 0.00 1.74 87%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 2.00 18 Jan 2011 0.00 0.86 43%

Safeguard Documents

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Evaluation Documents

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