41325-013: Capital Market Development Program (CMDP) | Asian Development Bank

Thailand: Capital Market Development Program (CMDP)

Sovereign (Public) Project | 41325-013 Status: Closed

ADB is helping develop Thailand’s capital market to boost investment and support long-term, sustainable growth. The project will support the government's agenda in the following areas: the regulatory environment, market efficiency, liquidity and transparency, market infrastructure, and new products and investors.

Project Details

Project Officer
Attapich, Luxmon Southeast Asia Department Request for information
  • Thailand
  • Loan
  • Technical Assistance
  • Finance
Project Name Capital Market Development Program (CMDP)
Project Number 41325-013
Country Thailand
Project Status Closed
Project Type / Modality of Assistance Loan
Technical Assistance
Source of Funding / Amount
Loan 2665-THA: Capital Market Development Program (CMDP)
Ordinary capital resources US$ 300.00 million
TA 7602-THA: Capital Market Development Phase III
Technical Assistance Special Fund US$ 900,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change
Sector / Subsector

Finance / Money and capital markets

Gender Equity and Mainstreaming No gender elements
Project Rationale and Linkage to Country/Regional Strategy
Impact Capital market diversification and resilience.
Project Outcome
Description of Outcome The CMDPL is expected to lead to increased contribution by the capital market to domestic financing.
Progress Toward Outcome Corporate bond market continued to expand well since 2010.
Implementation Progress
Description of Project Outputs

1. Medium-term sector development reforms adopted with targets.

2. Increased market efficiency, liquidity and transparency.

3. Strengthened market infrastructure and intermediaries.

4. Improved regulatory coordination and oversight.

5. Promoted new products and risk management.

6. Expanded investor base and improve measures for investor protection, financial stability and education.

Status of Implementation Progress (Outputs, Activities, and Issues)


Project was financially closed on 16 July 2013.


The TA was physically completed on 31 December 2014.

The last additional component to improve financial literacy skills and financial competencies of young people in Thailand which includes the review of the current education system with particular emphasis on curriculum, teaching aids/materials and teacher training was completed.

Geographical Location Nation-wide
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 International consultants (19.6 person-months) and National consultants (24.8 person-months)
Responsible ADB Officer Attapich, Luxmon
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Thailand Resident Mission
Executing Agencies
Public Debt Management Office
Ministry of Finance
Rama VI, Samsen Nai Pyathai
Bangkok 10400
Concept Clearance 10 Feb 2009
Fact Finding 10 Feb 2009 to 20 Feb 2009
MRM 10 Jun 2009
Approval 21 Sep 2010
Last Review Mission -
Last PDS Update 26 Mar 2015

Loan 2665-THA

Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Sep 2010 14 Feb 2011 12 May 2011 31 Mar 2012 30 Sep 2012 16 Jul 2013
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 300.00 Cumulative Contract Awards
ADB 300.00 21 Sep 2010 300.00 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 21 Sep 2010 300.00 0.00 100%

TA 7602-THA

Approval Signing Date Effectivity Date Closing
Original Revised Actual
21 Sep 2010 22 Oct 2010 22 Oct 2010 31 Mar 2013 31 Dec 2014 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
900,000.00 0.00 350,000.00 0.00 0.00 0.00 1,250,000.00 21 Sep 2010 674,003.13

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.

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Title Document Type Document Date
Capital Market Development Program: Project Completion Report Project/Program Completion Reports Jun 2015
Loan Agreement for Capital Market Development Program between the Kingdom of Thailand and Asian Development Bank dated 14 February 2011 Loan Agreement (Ordinary Resources) Feb 2011
Capital Market Development Program Reports and Recommendations of the President Aug 2010
Capital Market Development Program Summary Poverty Reduction and Social Strategies Aug 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 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.

Requests for information may also be directed to the InfoUnit.


No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.