The Asian Development Bank is working with Cambodia to strengthen the country’s financial system so that it can more effectively support the country’s economic growth. The program is supporting a broad range of initiatives, including upgrading the payment, clearance, and settlement systems; improving public financial information disclosure; and establishing a credit information bureau.
| Project Name | Second Financial Sector Program Cluster - Subprogram 4 | ||||||||
| Project Number | 34389-043 | ||||||||
| Country | Cambodia |
||||||||
| Project Status | Closed | ||||||||
| Project Type / Modality of Assistance | Grant Loan |
||||||||
| Source of Funding / Amount |
|
||||||||
| Strategic Agendas | Inclusive economic growth |
||||||||
| Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Private sector development |
||||||||
| Sector / Subsector | Finance / Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Insurance and contractual savings |
||||||||
| Gender Equity and Mainstreaming | Some gender elements | ||||||||
| Description | |||||||||
| Project Rationale and Linkage to Country/Regional Strategy | |||||||||
| Impact | A sound, market-based finance sector that enhances financial resource mobilization | ||||||||
| Project Outcome | |
|---|---|
| Description of Outcome | A growing, resilient, and efficient financial system |
| Progress Toward Outcome | Achieved the target outcomes. M2/to GDP reached 38.3% in December 2010 compared to the target of 29% or above by 2011. Total private sector credit reached 28% of GDP in December 2010 compared to target of 24% of GDP or above by 2011. Total bank deposits reached 34.4% of GDP in December 2010 compared to target of 25% of GDP or above by 2011 |
| Implementation Progress | |
| Description of Project Outputs | 1. Improved confidence and financial intermediation. Modernized payments, clearance, and settlement system (PCSS) 2. Maintain stability in the finance sector. Strengthened bank supervision capacity and measures adopted to sustain financial stability 3. Promote good governance. International initiatives on anti-money laundering and combating the financing of terrorism promoted 4. Enhance efficiency in the finance sector. Key operating functions of NBC fully computerized and integrated |
| Status of Implementation Progress (Outputs, Activities, and Issues) | completed |
| 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 | Samiuela T. Tukuafu |
| Responsible ADB Department | Southeast Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
| Executing Agencies |
National Bank of Cambodia P.O. Box 25 22-24 Norodom Blvd. Phnom Penh, Cambodia |
| Timetable | |
|---|---|
| Concept Clearance | 16 Mar 2007 |
| Fact Finding | 25 May 2010 to 01 Jun 2010 |
| MRM | 27 Jul 2010 |
| Approval | 02 Dec 2010 |
| Last Review Mission | - |
| PDS Creation Date | 19 Jan 2010 |
| Last PDS Update | 11 Jul 2011 |
Grant 0238-CAM
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 02 Dec 2010 | 27 Jan 2011 | 28 Mar 2011 | 30 Jun 2011 | - | 30 Jun 2011 |
| Financing Plan | Grant Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 5.00 | Cumulative Contract Awards | |||
| ADB | 5.00 | 02 Dec 2010 | 5.00 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 02 Dec 2010 | 5.00 | 0.00 | 100% |
Loan 2706-CAM
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 02 Dec 2010 | 27 Jan 2011 | 28 Mar 2011 | 30 Jun 2011 | - | 30 Jun 2011 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 10.00 | Cumulative Contract Awards | |||
| ADB | 10.00 | 02 Dec 2010 | 10.17 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 02 Dec 2010 | 10.17 | 0.00 | 100% |
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 |
|---|---|---|
| Financing Agreement for Financial Sector Program II - Subprogram 4 between Kingdom of Cambodia and Asian Development Bank dated 27 January 2011 | Financing Agreement | Jan 2011 |
| Second Financial Sector Program - Subprogram 4 | Reports and Recommendations of the President | Nov 2010 |
| Second Financial Sector Program - Subprogram 4 | Summary Poverty Reduction and Social Strategies | Nov 2010 |
| Second Financial Sector Program Cluster (Subprogram 4) | Design and Monitoring Frameworks | Nov 2010 |
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
None currently available.
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
No tenders for this project were found.
Contracts Awarded
No contracts awarded for this project were found
Procurement Plan
None currently available.