Regional : Enhancing Regional Capacity for Economic Surveillance and Financial Vulnerability Assessment
The proposed TA aims to enhance developing Asia''s capacity to undertake economic surveillance and financial vulnerability assessments by supporting the development of a regional economic surveillance framework for the ASEAN+3 Macroeconomic Research Office (AMRO), developing regional surveillance and vulnerability assessment tools at the regional level, strengthening the capacity of selected small open economies such as Bhutan, Cambodia, and Kyrgyz Republic, and applying new methodologies to improved previously developed tools.
Project Details
-
Project Officer
Villafuerte, James P.
Economic Research and Development Impact Department
Request for information -
Country/Economy
Regional -
Modality
-
Sector
- Finance
Project Name | Enhancing Regional Capacity for Economic Surveillance and Financial Vulnerability Assessment | ||||
Project Number | 49130-001 | ||||
Country / Economy | Regional Bhutan Cambodia Kyrgyz Republic |
||||
Project Status | Closed | ||||
Project Type / Modality of Assistance | Technical Assistance |
||||
Source of Funding / Amount |
|
||||
Strategic Agendas | Inclusive economic growth Regional integration |
||||
Drivers of Change | Governance and capacity development Knowledge solutions Partnerships |
||||
Sector / Subsector | Finance / |
||||
Gender | No gender elements | ||||
Description | The proposed TA aims to enhance developing Asia''s capacity to undertake economic surveillance and financial vulnerability assessments by supporting the development of a regional economic surveillance framework for the ASEAN+3 Macroeconomic Research Office (AMRO), developing regional surveillance and vulnerability assessment tools at the regional level, strengthening the capacity of selected small open economies such as Bhutan, Cambodia, and Kyrgyz Republic, and applying new methodologies to improved previously developed tools. The project's impact will be on the increased usage of economic and financial vulnerability assessments in AMRO and selected DMCs. The project will result in an enhanced capacity of AMRO and selected DMCs to spot, assess, and mitigate economic and financial sector vulnerabilities. The TA will have seven major outputs: (i) AMRO's surveillance framework and indicator and database system; (ii) A quantitative economic tool derived from VIEWS++; (iii) VIEWS++; (iv) Virtual regional economic surveillance network (VRESN); (v) Customized version of VIEWS++ to suit the needs of selected DMCs; (vi)Trained officials from finance ministries and central banks of selected DMCs; and (vii) Dissemination of knowledge products on regional economic surveillance. |
||||
Project Rationale and Linkage to Country/Regional Strategy | Macroeconomic challenges confront the Asia-Pacific region -- divergent monetary policies in G3 economies characterized by the expected tightening of US monetary policy and continued easing in Japan and the European Union (EU) significantly affecting Asia's the capital outflows from the bond and equity markets and risk premiums; within the international community, including the G20, there have been extensive discussions regarding the limitations of existing regulatory and supervisory frameworks and the importance of having a holistic view of the global, regional, and national financial systems to properly assess financial stability and vulnerability of the region and any economy; and countries in the Asia-Pacific region need a venue to discuss these issues, share their experiences, and strengthen their capacity to respond to some of these foreign policy shocks. The complexity of these global and regional macroeconomic interdependence and spillovers, requires ADB to continue to sharpen its knowledge on these issues to raise the region''s regional economic surveillance capacity and financial vulnerability assessment skills. The TA supports two core areas of ADB's Strategy 2020, namely: financial sector development and regional cooperation integration (RCI), which are substantiated in the Financial Sector Operational Plan (FSOP, 2011) and RCI Strategy (2006), respectively. These strategies recognize the importance of creating regional knowledge to address common risks and enhance the capacity of supervisory authorities as basic infrastructures for financial sector development. |
||||
Impact | Enhanced capacity of AMRO and selected DMCs to spot, assess, and mitigate economic and financial sector vulnerabilities. |
Project Outcome | |
---|---|
Description of Outcome | Increased use of economic and financial vulnerability assessment tools in AMRO and selected DMCs. |
Progress Toward Outcome | |
Implementation Progress | |
Description of Project Outputs | A regional surveillance framework, database, and tools for AMRO developed. A quantitative regional surveillance and financial vulnerability assessment tool (VIEWS++) for Asia developed VRESN formed Economic surveillance and financial vulnerability assessment skills for selected DMCs improved |
Status of Implementation Progress (Outputs, Activities, and Issues) | |
Geographical Location | Bhutan - Nation-wide; Cambodia - Nation-wide; Kyrgyz Republic - Nation-wide |
Summary of Environmental and Social Aspects | |
---|---|
Environmental Aspects | |
Involuntary Resettlement | |
Indigenous Peoples | |
Stakeholder Communication, Participation, and Consultation | |
During Project Design | This proposal has been prepared in close consultation with CWRD, SARD, SERD and OCO. The AMRO, the National Bank of Cambodia and the National Bank of the Kyrgyz Republic were also consulted. |
During Project Implementation | An inception workshop will be conducted to determine the specific nature of partnership with the central banks and/or Ministries of Finance of the selected DMCs, with AMRO, the IMF, BIS, World Bank, and Bank of Japan. |
Business Opportunities | |
---|---|
Consulting Services | tbd |
Procurement | tbd |
Responsible ADB Officer | Villafuerte, James P. |
Responsible ADB Department | Economic Research and Development Impact Department |
Responsible ADB Division | Regional Cooperation and Integration Division (ERCI) |
Executing Agencies |
Asian Development Bank |
Timetable | |
---|---|
Concept Clearance | 21 May 2015 |
Fact Finding | 31 Jul 2015 to 17 Aug 2015 |
MRM | - |
Approval | 08 Feb 2016 |
Last Review Mission | - |
Last PDS Update | 12 Feb 2016 |
TA 9077-REG
Milestones | |||||
---|---|---|---|---|---|
Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
08 Feb 2016 | - | 08 Feb 2016 | 31 Jan 2018 | 31 Dec 2020 | 01 Aug 2021 |
Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
---|---|---|---|---|---|---|---|---|
ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
Gov | Beneficiaries | Project Sponsor | Others | |||||
0.00 | 1,200,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,200,000.00 | 12 Aug 2022 | 1,082,450.07 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.
Title | Document Type | Document Date |
---|---|---|
Enhancing Regional Capacity for Economic Surveillance and Financial Vulnerability Assessment: Technical Assistance Completion Report | TA Completion Reports | Aug 2022 |
Enhancing Regional Capacity for Economic Surveillance and Financial Vulnerability Assessment: Technical Assistance Report | Technical Assistance Reports | Feb 2016 |
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
Title | Document Type | Document Date |
---|---|---|
Enhancing Regional Capacity for Economic Surveillance and Financial Vulnerability Assessment | Validation of Technical Assistance Completion Reports | Dec 2023 |
Related Publications
Title | Document Type | Document Date |
---|---|---|
Distributed Ledger Technology and Digital Assets: Policy and Regulatory Challenges in Asia | Reports | Jun 2019 |
Strengthening Regional Surveillance and Financial Safety Net Mechanisms in Asia: Workshop Highlights | Conference Proceedings | Apr 2019 |
Harnessing Technology for More Inclusive and Sustainable Finance in Asia and the Pacific | Reports | Oct 2018 |
Building Complementarity and Resilience in ASEAN amid Global Trade Uncertainty | Papers and Briefs | Oct 2018 |
Financial Services and Technology: Financial Inclusion and Stability – Conference Highlights | Conference Proceedings | Feb 2018 |
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
Tenders
Tender Title | Type | Status | Posting Date | Deadline |
---|---|---|---|---|
Financial, Banking Regulation, Regional Cooperation Expert | Individual - Consulting | Closed | ||
Sr. Financial, Banking Regulation, Regional Cooperation Expert | Individual - Consulting | Closed | ||
Senior Economic Research Associate | Individual - Consulting | Closed | ||
Database and Web Developer/Programmer | Individual - Consulting | Closed | ||
Economic Research Assistant | Individual - Consulting | Closed | ||
Senior Economic and Financial Analyst | Individual - Consulting | Closed | ||
Macroeconomic and Financial Advisor for the National Bank of Kyrgyz Republic | Individual - Consulting | Closed | ||
Financial Economist / Financial Indicators Expert (Cambodia) | Individual - Consulting | Closed | ||
Senior Economic/Financial Analyst (Cambodia) | Individual - Consulting | Closed | ||
Macroeconomic Advisor | Individual - Consulting | Closed | ||
Senior Economic Analyst (Econometrician) | Individual - Consulting | Closed |
Contracts Awarded
Procurement Plan
None currently available.