Regional: Asian Bonds Online Website Project, Phase III

Sovereign Project | 42347-012

Summary

The TA aims to continue ADB support in disseminating and improving the information flow for the region's bond markets. The TA's objective supports the expansion and creation of regional cooperation and integration (RCI) knowledge products in line with ADB's Strategy 2020 by expanding its bond market coverage for both corporate and governemnt bond markets. The TA will also facilitate monetary financial cooperation and integration by developing robust local currency bond markets in the region, and thus support key result areas of OREI, based on the RCI strategy.

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Project Name Asian Bonds Online Website Project, Phase III
Project Number 42347-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7539-REG: Asian Bonds Online Website Project, Phase III
Japan Fund for Poverty Reduction US$ 1.00 million
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Partnerships
Private sector development
Sector / Subsector

Finance - Money and capital markets

Gender Equity and Mainstreaming
Description The TA aims to continue ADB support in disseminating and improving the information flow for the region's bond markets. The TA's objective supports the expansion and creation of regional cooperation and integration (RCI) knowledge products in line with ADB's Strategy 2020 by expanding its bond market coverage for both corporate and governemnt bond markets. The TA will also facilitate monetary financial cooperation and integration by developing robust local currency bond markets in the region, and thus support key result areas of OREI, based on the RCI strategy.
Project Rationale and Linkage to Country/Regional Strategy The Asian Bonds Online (ABO) website was started under the ABMI in May 2004 with the support of ADB. This TA aims to continue ADB support in disseminating and improving the information flow for the region s bond markets. The TA's objective supports the expansion and creation of regional cooperation and integration (RCI) knowledge products in line with ADB's Strategy 2020 by expanding its bond market coverage for both corporate and government bond markets. The TA will also facilitate monetary financial cooperation and integration by developing robust local currency bond markets in the region, and thus support key result areas of the Office of Regional Economic Integration (OREI) based on the RCI strategy. The information, data, and analysis provided through the ABO website and the quarterly publication, Asia Bond Monitor, are increasingly being used by institutional investors active in local currency bond markets. This valuable information source is also helping ADB to support ASEAN and ASEAN 3 activities in capital markets development. The TA is a continuation of the following previous TAs: TA 9041 (Asian Bonds Online Website) and TA 6464 (Asian Bonds Online Website Project, Phase II). These RETAs were conceptualized to promote RCI through various information dissemination activities and RCI knowledge products.
Impact The TA is expected to expand the provision of information, data, and analysis related to emerging East Asian bond markets through management of the ABO Website. This will (i) help increase transparency, liquidity, efficiency, credibility, and depth of bond markets in the region (ii) serve as a one stop information center for institutional investors (iii) lower funding costs for Asian bond issuers and (iv) facilitate cross border capital flows.
Project Outcome
Description of Outcome More developed and mature bond markets will enable the private and public sectors of Asian countries to raise and invest long term capital and effectively manage credit, maturity, and currency risks, thereby reducing their financial vulnerabilities and promoting stability. Key stakeholders institutional investors, issuers, policymakers, researchers, and other private sector participants will access the ABO website's information, data, and analysis of various bond markets in Asia and download related indicators and the latest regional economic reports and related publications. ABO is a public good that benefits all stakeholders, instituional investors, policymakers, academics, and researchers. ASEAN 3 has identified it as the key information and data source on local currency bond markets in emergin East Asia.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs Components of the TA will include: (i) managing and maintaining the ABO website, (ii) regularly enhancing website content, (iii) expanding the coverage of the website's Credit Risk Monitor, and (iv) supporting related publications such as the Asia Bond Monitor and Asian Capital Markets Monitor and participation of resource persons in relevant seminars and other fora. The TA will also consider producing a handbook on local currency bond markets, improving bond market databases, and producing policy briefs and working papers on key issues facing the market. It will also facilitate information dissemination workshops and seminars on local and regional capital markets.
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Regional
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 Type of consultant: individual consultants
Responsible ADB Officer Sabyasachi Mitra
Responsible ADB Department Economic Research and Regional Cooperation Department
Responsible ADB Division ERMR
Executing Agencies
Asian Development BankSabyasachi Mitrasabymitra@adb.org6 ADB Avenue, Mandaluyong City 1550, Philippines
Timetable
Concept Clearance 02 Feb 2010
Fact Finding 11 Mar 2010 to 25 Mar 2010
MRM -
Approval 31 May 2010
Last Review Mission -
PDS Creation Date 17 Feb 2010
Last PDS Update 16 Sep 2010

TA 7539-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
31 May 2010 - 31 May 2010 31 May 2011 31 May 2012 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
0.00 1,000,000.00 0.00 0.00 0.00 0.00 1,000,000.00 31 May 2010 926,138.26

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


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