Indonesia : Capital Market Development Program Cluster (Subprogram I) (formerly Financial Governance and Social Security Reform Program II)
The proposed Program is the second loan in the cluster program comprising two loans to support policy reforms for financial governance and social security. The Program will build upon completed reforms for strengthening the financial sector under FGSSR I, and will support the Government in carrying forward its reform agenda for the financial sector as set forth under the Government's Economic Policy Package Pre and Post IMF (White Paper) issued in 2003.
Project Details
-
Project Officer
Schuster, Stephen R.
Southeast Asia Department
Request for information -
Country/Economy
Indonesia -
Modality
-
Sector
- Finance
Project Name | Capital Market Development Program Cluster (Subprogram I) (formerly Financial Governance and Social Security Reform Program II) | ||||||||||
Project Number | 32507-013 | ||||||||||
Country / Economy | Indonesia |
||||||||||
Project Status | Closed | ||||||||||
Project Type / Modality of Assistance | Loan Technical Assistance |
||||||||||
Source of Funding / Amount |
|
||||||||||
Strategic Agendas | Inclusive economic growth |
||||||||||
Drivers of Change | Governance and capacity development Private sector development |
||||||||||
Sector / Subsector | Finance / Insurance and contractual savings |
||||||||||
Gender | No gender elements | ||||||||||
Description | The proposed Program is the second loan in the cluster program comprising two loans to support policy reforms for financial governance and social security. The Program will build upon completed reforms for strengthening the financial sector under FGSSR I, and will support the Government in carrying forward its reform agenda for the financial sector as set forth under the Government's Economic Policy Package Pre and Post IMF (White Paper) issued in 2003. | ||||||||||
Project Rationale and Linkage to Country/Regional Strategy | |||||||||||
Impact | Greater financial sector diversification and resilience |
Project Outcome | |
---|---|
Description of Outcome | Increased contribution by the capital market to domestic financing |
Progress Toward Outcome | |
Implementation Progress | |
Description of Project Outputs | 1. Enhancing information disclosure and price discovery - Stronger price information disclosure - Better market valuation of fixed income instruments 2. Deeper and more liquid financial markets a. Development of government bond market b. Development of new market products including hedging instruments c. Improved market liquidity d. Enhanced performance of contractual savings industry. 3. Improving market surveillance and investor protection a. Strengthened autonomy, accountability, and powers of Bapepam-LK b. Increased investor confidence and investment in capital market products c. Improved governance in stock exchange through merger of the two stock exchanges 4. Strengthening governance and human resource capacity a. Strengthened overall financial sector risk management b. Enhanced industry skills and capacity for capital markets and contractual savings c. Strengthened actuarial profession |
Status of Implementation Progress (Outputs, Activities, and Issues) | |
Geographical Location |
Safeguard Categories | |
---|---|
Environment | C |
Involuntary Resettlement | C |
Indigenous Peoples | C |
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 | Schuster, Stephen R. |
Responsible ADB Department | Southeast Asia Department |
Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
Executing Agencies |
Capital Market & Nonbank Inst Supervisory Agency |
Timetable | |
---|---|
Concept Clearance | 24 Oct 2006 |
Fact Finding | 30 Apr 2007 to 15 May 2007 |
MRM | 15 Aug 2007 |
Approval | 10 Dec 2007 |
Last Review Mission | - |
Last PDS Update | 19 Oct 2010 |
Loan 2379-INO
Milestones | |||||
---|---|---|---|---|---|
Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
10 Dec 2007 | 11 Dec 2007 | 14 Dec 2007 | 31 Mar 2008 | - | 31 Mar 2008 |
Financing Plan | Loan Utilization | ||||
---|---|---|---|---|---|
Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
Project Cost | 300.00 | Cumulative Contract Awards | |||
ADB | 300.00 | 17 Jun 2022 | 300.00 | 0.00 | 100% |
Counterpart | 0.00 | Cumulative Disbursements | |||
Cofinancing | 0.00 | 17 Jun 2022 | 300.00 | 0.00 | 100% |
TA 7000-INO
Milestones | |||||
---|---|---|---|---|---|
Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
10 Dec 2007 | 18 Jan 2008 | 18 Jan 2008 | 31 Jan 2010 | 30 Jun 2012 | 30 Sep 2012 |
Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
---|---|---|---|---|---|---|---|---|
ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
Gov | Beneficiaries | Project Sponsor | Others | |||||
700,000.00 | 500,000.00 | 300,000.00 | 0.00 | 0.00 | 0.00 | 1,500,000.00 | 17 Jun 2022 | 1,144,273.91 |
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 |
---|---|---|
Amendment to the Loan Agreement for Capital Market Development Program Cluster - Subprogram 1 between Republic of Indonesia and Asian Development Bank (25 January 2008) | Loan Agreement (Ordinary Resources) | Jan 2008 |
Loan Agreement for Capital Market Development Program Cluster - Subprogram 1 between Republic of Indonesia and Asian Development Bank dated 11 December 2007 | Loan Agreement (Ordinary Resources) | Dec 2007 |
Capital Market Development Program Cluster (Subprogram 1) | Reports and Recommendations of the President | Nov 2007 |
Capital Market Development Program Cluster (Subprogram I) | Design and Monitoring Frameworks | Sep 2007 |
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 |
---|---|---|
Indonesia: Capital Market Development Program Cluster (Subprograms 1 and 2) | Project Performance Evaluation Reports | Dec 2017 |
Indonesia: Capital Market Development Program Cluster | Validations of Project Completion Reports | Oct 2015 |
Related Publications
None currently available.
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
Contracts Awarded
Procurement Plan
None currently available.