| Project Name | Assessing Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN | ||||
| Project Number | 43570-012 | ||||
| Country / Economy | Regional |
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| Project Status | Closed | ||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Regional integration |
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| Drivers of Change | Knowledge solutions |
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| Sector / Subsector | Finance / Banking systems and nonbank financial institutions - Finance sector development - Money and capital markets |
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| Gender | |||||
| 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 |
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| 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 | Regional |
| 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 | Yamadera, Satoru |
| Responsible ADB Department | Office of Regional Economic Integration |
| Responsible ADB Division | OREF |
| Executing Agencies |
Asian Development Bank |
| 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 |
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 17 Dec 2009 | - | 17 Dec 2009 | 30 Jun 2010 | 31 Dec 2010 | 17 May 2011 |
| 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 Feb 2023 | 213,278.56 |
| Project Page | https://www.adb.org//projects/43570-012/main |
| Request for Information | http://www.adb.org/forms/request-information-form?subject=43570-012 |
| Date Generated | 06 June 2023 |