The PPTA aims to prepare the strategy for developing the financial sector/nonbank financial institutions, strengthening the banking supervision and insurance regulation functions of RMA, and building institutional capacity of RMA and RICB. In addition, the TA will prepare the program design of the Financial Sector/NBFIs Reform Program.
|Project Name||Preparing the Financial Sector/Non-Bank Financial Institutions Reform Program|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
|Sector / Subsector||
Finance / Finance sector development
|Gender Equity and Mainstreaming||No gender elements|
|Description||The PPTA aims to prepare the strategy for developing the financial sector/nonbank financial institutions, strengthening the banking supervision and insurance regulation functions of RMA, and building institutional capacity of RMA and RICB. In addition, the TA will prepare the program design of the Financial Sector/NBFIs Reform Program.|
|Project Rationale and Linkage to Country/Regional Strategy||Bhutan: Country Strategy and Program (2006-2010)|
|Description of Outcome|
|Progress Toward Outcome|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|Consulting Services||ADB will engage 7 international consultants for a total of 13 person-months and 3 domestic consultants for a total of 9 person-months to provide the required consulting services. Consultancy services will be delivered intermittently over one year. An international consulting firm will be recruited using simplified technical proposals under the quality- and cost-based selection method in accordance with ADB's Guidelines on the Use of Consultants by Asian Development Bank and Its Borrowers and other arrangements satisfactory to ADB for selecting domestic consultants. The consultants will provide consultancy services to financial institutions for institutional capacity building and RMA for banking supervision and regulation. The consultants identified for the consultancy will have experience working in the above-mentioned areas in small economies, with exposure in the South Asia region. The international consultant team will comprise a financial sector/banking supervision expert/team leader (4 person-months), a securities/capital market expert (2 person-months), an insurance/nonbank financial institutions expert (3 person-months), an accounting and auditing expert (1 person-months), a legal expert on securities/capital markets (1 person-month), a legal expert on insurance/nonbank financial institutions (1 person-months), and an actuary (1 person-months). The domestic consultant team will include a financial sector specialist (5 person-months), a legal expert on financial sector (2 person-months), and an IT specialist (2 person-months).|
|Responsible ADB Officer||Hu, Chia-Hsin|
|Responsible ADB Department||South Asia Department|
|Responsible ADB Division||Public Management, Financial Sector and Trade Division, SARD|
Department of Aid and Debt Management
Mr. Nima Wangdi, Director
Ministry of Finance Royal Government of Bhutan Thimphu, Bhutan
|Concept Clearance||10 Mar 2005|
|Fact Finding||14 Feb 2005 to 22 Feb 2005|
|Approval||17 Jul 2005|
|Last Review Mission||-|
|PDS Creation Date||09 Nov 2007|
|Last PDS Update||16 Apr 2008|
|Approval||Signing Date||Effectivity Date||Closing|
|17 Jul 2005||23 Aug 2005||23 Aug 2005||31 Jul 2006||30 Apr 2008||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|500,000.00||0.00||0.00||0.00||0.00||0.00||500,000.00||17 Jul 2005||493,776.45|
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 Public Communications Policy (PCP) 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|
|Preparing the Financial Sector/Non bank Financial Sector Institutions Reform Programme||Consultants' Reports||Dec 2007|
|Preparing the Financial Sector/Nonbank Financial Institutions Reform Program||Technical Assistance Reports||Jul 2005|
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.
None currently available.
The Public Communications Policy (PCP) 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.
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