Regional: Assessing the Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN, Phase 2

Sovereign Project | 44349-012

Summary

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Project Name Assessing the Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN, Phase 2
Project Number 44349-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 7689-REG: Assessing the Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN, Phase 2
Technical Assistance Special Fund US$ 725,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change
Sector / Subsector Finance - Banking systems and nonbank financial institutions - Finance sector development - Insurance and contractual savings - Money and capital markets
Gender Equity and Mainstreaming No gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact Freer capital flows, more developed capital markets and more integrated financial services in the region.
Project Outcome
Description of Outcome

The TA will strongly support realization of financial services liberalization, capital account liberalization, and capital markets development in ASEAN in a strategic and prudent manner; hence, it will lead the financial integration and ASEAN Economic Community in 2015.

The TA clarifies steps to liberalization of financial services, capital account liberalization, and further development of capital markets of ASEAN member states; the ASEAN member countries will better understand and implement liberalization process smoothly.

Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Based on a blueprint drawn by the S-RDTA which specifies preconditions, safeguard measures and new initiatives needed for ASEAN member countries to pursue sound and prudent ASEAN financial integration, the TA will produce (i) detail implementation plans for the member states. To facilitate discussions among the consultants and regulators and produce feasible implementation plans, the TA will (ii) organize workshops/consultations/informal meetings with key regulators and central banks in each counctry.

In the implementation plans, it is necessary (a) to identify and prioritize the areas where further reforms and institutional changes are required in each country; (b) to ensure the consistency with other plans; and (c) to formulate a scorecard to track implementation, monitoring and review mechanism, and capacity building for capital account liberalization and financial services liberalization.

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 Recruitment of Consultants expected to take place on December 2010
Responsible ADB Officer Shinji Kawai
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 28 Feb 2010
Fact Finding 28 Feb 2010 to 13 Mar 2010
MRM -
Approval 07 Dec 2010
Last Review Mission -
Last PDS Update 25 Nov 2010

TA 7689-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
07 Dec 2010 - 07 Dec 2010 31 Aug 2011 30 Jun 2013 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
725,000.00 0.00 0.00 0.00 0.00 0.00 725,000.00 07 Dec 2010 516,386.46

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


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