Project Data Sheet
Project 36357-013
Project Data Sheet
Project 36357-013
| Project Name | Financial Markets Program for Private Sector Development | ||||||||
| Project Number | 36357-013 | ||||||||
| Country / Economy | Sri Lanka |
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| Project Status | Closed | ||||||||
| Project Type / Modality of Assistance | Loan |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Governance and capacity development Private sector development |
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| Sector / Subsector | Finance / Finance sector development |
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| Gender | No gender elements | ||||||||
| Description | The objective of the Program is to facilitate private sector participation, including SMEs, in the Sri Lankan economy by supporting Government reforms to eliminate impediments and develop opportunities for greater private sector involvement. The Program aims to create a more vibrant private sector that should take a lead in generating employment opportunities for economic growth and in raising income levels for a larger segment of the country, including the rural areas. | ||||||||
| Project Rationale and Linkage to Country/Regional Strategy | The program is integral part of the Country Strategy and Program agreed between the Government and ADB | ||||||||
| Impact | (1) Develop financial markets (2) Reduce public sector spending in PBank |
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| Project Outcome | |
|---|---|
| Description of Outcome | |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | (1.a) Increased financial products and services available to the capital market (1.b) Enhanced corporate governance in the financial market; resulting in fostered competition and promoted transparency in the financial market (1.c) Improved regulations of the insurance industry (2.a) Improved Corporate Governance of Stateowned Banks (2.b) Operational Improvement of PBank |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | |
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| 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 | tbd |
| Procurement | tbd |
| Responsible ADB Officer | Huang, Anqian |
| Responsible ADB Department | South Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SARD |
| Executing Agencies |
Ministry of Finance and Planning Mr. HM Gunasekera [email protected] Ministry of Finance and Planning |
| Timetable | |
|---|---|
| Concept Clearance | 20 Feb 2004 |
| Fact Finding | 16 Aug 2004 to 06 Sep 2004 |
| MRM | 21 Oct 2004 |
| Approval | 15 Dec 2004 |
| Last Review Mission | - |
| PDS Creation Date | 31 Jan 2007 |
| Last PDS Update | 14 Feb 2008 |
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 15 Dec 2004 | 20 Dec 2004 | 21 Mar 2005 | 31 Dec 2007 | 31 Dec 2010 | 28 Oct 2010 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 60.00 | Cumulative Contract Awards | |||
| ADB | 60.00 | 17 Jun 2022 | 60.00 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 17 Jun 2022 | 60.00 | 0.00 | 100% |
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 15 Dec 2004 | 20 Dec 2004 | 21 Mar 2005 | 01 Dec 2007 | 01 Dec 2010 | 13 Sep 2011 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 6.00 | Cumulative Contract Awards | |||
| ADB | 5.00 | 17 Jun 2022 | 0.45 | 0.00 | 100% |
| Counterpart | 1.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 17 Jun 2022 | 0.45 | 0.00 | 100% |