Regional: Financial Sector Development in Central and West Asia

Sovereign Project | 43359-012 Status: Closed


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Project Name Financial Sector Development in Central and West Asia
Project Number 43359-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7709-REG: Financial Sector Development in Central and West Asia
Technical Assistance Special Fund US$ 1.50 million
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Finance - Inclusive finance - Infrastructure finance and investment funds - Insurance and contractual savings - Money and capital markets - Small and medium enterprise finance and leasing

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

Project Outcome

Description of Outcome
Progress Toward Outcome Assessments have contributed to the design of (i) ARM Women's Entrepreneurship Support Sector Development Program; (ii) UZB Small Business and Entrepreneurship Development Project; (iii) GEO: proposed policy based loan to be approved 2014; (iv) UZB TA for insurance sector development. The assessments have contributed to CPS and COBP for (i) TAJ, (ii) ARM and (iii) GEO.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

Surveys of financial sector development needs have been conducted in six countries (ARM, GEO, TAJ, UZB, KAZ and PAK). One survey has been conducted on training needs in ten countries.

Two working papers have been completed. Making Mobile Financial Services Work in Central and West Asia, and Making Insurance work in Central and West Asia.

Demand for financial sector assistance has been identified for (i) electronic banking, (ii) insurance, (iii) capital market, (iv) agrifinance, and (v) microfinance.

Six financial sector assessments have been prepared for six countries (ARM, GEO, KAZ, PAK, TAJ, UZB).

Five regional training programs have been designed and delivered. At least 37% of the trained have been women.

133 staff from supervisory and regulatory authorities trained of which 37% were women.

115 financial sector regulator and commercial bankers have been trained in microfinance and small and medium-sized finance, of which 35% were women.

Each of the 5 regional training programs address the issue of regulatory cooperation and networking.

48% of participants rated the seminar as excellent and 52% rated it as good.

Geographical Location Afghanistan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, Turkmenistan, Uzbekistan

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design Central banks, financial regulatory authorities, banks
During Project Implementation Central banks, financial regulatory authorities, banks

Business Opportunities

Consulting Services The TA includes two main components. The first component includes around 12 person months international consulting services and 12 person months national consulting services to carry out (i) surveys and assessments, (ii) prepare working papers, (iii) develop action plans. A firm has been hired for this component through Quality and Cost Based Selection (QCBS) method with simplified technical proposal and with an 80/20 weighting. The second component includes around 5 person months international consulting services to (i) prepare training materials, (ii) deliver training programs, and (iii) participate in seminars as requested. A firm has been hired through Consultants Qualification Selection. A national individual consultant has been hired for 6 person months to provide technical and administrative support to activities to be implemented under the TA. In addition, an international individual consultant has been hired for 2 person months for editing action plans, working papers and other material as requested. Consultants were engaged by ADB in accordance with the Guidelines on the Use of Consulants by ADB and Its Borrowers (April 2010, as amended from time to time).

Responsible Staff

Responsible ADB Officer Anna Schou-Zibell
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines


Concept Clearance 18 Nov 2010
Fact Finding 12 Nov 2010 to 12 Nov 2010
Approval -
Last Review Mission -
PDS Creation Date 19 Nov 2010
Last PDS Update 26 Mar 2015

TA 7709-REG

Approval Signing Date Effectivity Date Closing
Original Revised Actual
14 Dec 2010 - 14 Dec 2010 31 Dec 2013 30 Nov 2014 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,500,000.00 0.00 0.00 0.00 0.00 0.00 1,500,000.00 14 Dec 2010 1,319,446.09

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

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Related Publications

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