Regional: Assessing Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN

Sovereign Project | 43570-012

Summary

To provide a thorough and critical assessment of the current state of financial services liberalization, capital market development, and capital account liberalization in ten ASEAN countries (Brunei Darussalam, Cambodia, Indonesia, Lao People's Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam). The S RDTA will also prepare Financial Integration Milestones Blueprint which will lay out a comprehensive program to achieve the ASEAN financial integration by 2015 and facilitates the monitoring of the progress of financial integration.

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Project Name Assessing Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN
Project Number 43570-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7455-REG: Assessing Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN
Technical Assistance Special Fund US$ 225,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change
Sector / Subsector

Finance - Banking systems and nonbank financial institutions - Finance sector development - Money and capital markets

Gender Equity and Mainstreaming No gender elements
Description To provide a thorough and critical assessment of the current state of financial services liberalization, capital market development, and capital account liberalization in ten ASEAN countries (Brunei Darussalam, Cambodia, Indonesia, Lao People's Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam). The S RDTA will also prepare Financial Integration Milestones Blueprint which will lay out a comprehensive program to achieve the ASEAN financial integration by 2015 and facilitates the monitoring of the progress of financial integration.
Project Rationale and Linkage to Country/Regional Strategy
Impact Support the realization of the ASEAN Economic Community by 2015
Project Outcome
Description of Outcome Liberalization of financial services and capital account, and further development of capital markets
Progress Toward Outcome
Implementation Progress
Description of Project Outputs 1. Define the end goals of ASEAN financial integration 2. Review and assess the financial sector landscapes, conditions and policy regimes of ASEAN member countries and the region in terms of financial services liberalization in banking and non banking financial sectors, capital account liberalization regimes, and capital market development and evaluate the readiness of the economies to achieve financial integration by 2015 3. Identify gaps, constraints and challenges that may inhibit the financial integration of ASEAN 4. Specify the preconditions, safeguard measures and new initiatives needed for ASEAN member countries 5. Assess if concrete timelines have been set for the existing initiatives and if integration is moving toward the set timeframes, and determine if there is a need to accelerate the timeframes to achieve the 2015 targets 6. Prioritize the complete set of initiatives, including new initiatives needed, to speed up and achieve the end goals of ASEAN financial integration 7. Design a comprehensive and step by step program for achieving the financial integration of ASEAN 8. Provide best practiced models based on other regional and country references to be adapted to the ASEAN setting
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 Financial Market Specialist (international, 6 person months)
Responsible ADB Officer Satoru Yamadera
Responsible ADB Department Office of Regional Economic Integration
Responsible ADB Division OROD
Executing Agencies
Asian Development Bank6 ADB Avenue, Mandaluyong
Metro Manila, Philippines
P.O. Box 789, 1099 Manila,
Philippines
Timetable
Concept Clearance 10 Mar 2009
Fact Finding 11 Mar 2009 to 25 Mar 2009
MRM -
Approval 17 Dec 2009
Last Review Mission -
Last PDS Update 16 Apr 2010

TA 7455-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
17 Dec 2009 - 17 Dec 2009 30 Jun 2010 31 Dec 2010 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
225,000.00 0.00 0.00 0.00 0.00 0.00 225,000.00 17 Dec 2009 213,278.56

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


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