Papua New Guinea: Supporting Anti-Money Laundering and Combatting the Financing of Terrorism in Papua New Guinea

Sovereign Project | 47309-001

Summary

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Project Name Supporting Anti-Money Laundering and Combatting the Financing of Terrorism in Papua New Guinea
Project Number 47309-001
Country Papua New Guinea
Project Status Approved
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8515-PNG: Supporting Anti-Money Laundering and Combatting the Financing of Terrorism in Papua New Guinea
Technical Assistance Special Fund US$ 225,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector Finance - Finance sector development - Money and capital markets
Gender Equity and Mainstreaming
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact Reduced vulnerability to transnational financial crime and money laundering risks in PNG
Project Outcome
Description of Outcome Improved legislative framework to combat transnational financial crime and to comply with FATF and APG Revised Standards.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Advice on draft Anti-Money Laundering and Combatting the Financing of Terrorism Criminalization Bill

Draft Proceeds of Crime Act

Draft Anti-Money Laundering and Combatting the Financing of Terrorism Regulation Act

Draft Combatting the Financing of Terrorism Listing and Freezing Act

Stakeholder understanding of new legislation, regulations, institutional arrangements and enforcement mechanisms.

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 One international consultant will be needed under the TA. The consultant will be a financial sector and transnational financial crime legal specialist, with extensive legislative drafting expereince. A total of 8 person months (intermittent) consulting services are required, including 3 person months of in-country inputs and 5 months of home based inputs. The consultant will be recruited and hired individually in accordance with ADB's Guidelines on the Use Consultants (March 2013, as amended from time to time)
Responsible ADB Officer Aaron Batten
Responsible ADB Department Pacific Department
Responsible ADB Division Papua New Guinea Resident Mission
Executing Agencies
Asian Development Bank6 ADB Avenue, Mandaluyong
Metro Manila, Philippines
P.O. Box 789, 1099 Manila,
Philippines
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval 14 Nov 2013
Last Review Mission -
Last PDS Update 26 Nov 2013

TA 8515-PNG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
14 Nov 2013 - 14 Nov 2013 30 Jun 2015 - -
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 14 Nov 2013 180,609.40

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Safeguard Documents

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Evaluation Documents

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