|Project Name||Broadening Investor Base for Local Currency Bonds in ASEAN+3|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Private sector development
|Sector / Subsector||
Finance - Money and capital markets
|Gender Equity and Mainstreaming||No gender elements|
|Project Rationale and Linkage to Country/Regional Strategy|
|Impact||The TA is expected by broadening investor base, the TA will help strengthen the regional financial system by helping to deepen the bond markets in the region and make them less vulnerable to sudden withdrawal of capital from by a group of investors.|
|Description of Outcome||The TA is expected to help address policies, regulations, and standards that have impeded the broadening of investor base-both for domestic and foreign investors.|
|Progress Toward Outcome|
|Description of Project Outputs||
1. Comprehensive analysis of domestic and foreign investor base of local currency bonds within ASEAN+3. Identification and assessment of factors impeding their investment in local currency bonds.
2. Recommendation on how these factors, could be addressed and harmonized to broaden investor base to include both domestic and foreign investors.
3. Comprehensive analysis of mutual funds in ASEAN, the PRC, and Korea, including the market size, policy and practices to promote retailed investors in local currency bonds. Identification and assessment of factors Singapore, the Philippines, and Thailand have adopted to broaden investor base to retailed investors.
4. Recommendations on how the policies and practices could be further improved to further broaden investor base and steps to achieve this objective.
5. Recommendations on measures for the Governments to undertake to minimize vulnerability of member countries to sudden reversal of foreign investment in local currency bonds.
6. Dissemination of the recommendations on the broadening of investor base to policy makers and market participants through workshops per member countries' request.
7. Identification of issues of priorities for discussion at the Asian Bond Market Forum (ABMF) to encourage the adoptions of the recommendations, both by the policy makers/regulators and market participants.
|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|
A. International Consultants:
1. Senior Bond market specialist (8 person-months).
2. Bond Market Specialist (5 person-months)
3. Capital market specialist (8 person-months).
B. National Consultants:
Bond market specialist (11 person-months) and capital market specialist (11 person-months). The specialists will provide support for the international consultants.
|Responsible ADB Officer||Siackhachanh, Avonechith|
|Responsible ADB Department||Sustainable Development and Climate Change Department|
|Responsible ADB Division||SDOD|
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
|Concept Clearance||09 Feb 2010|
|Fact Finding||28 Feb 2010 to 13 Mar 2010|
|Approval||07 Dec 2010|
|Last Review Mission||-|
|Last PDS Update||15 Apr 2010|
|Approval||Signing Date||Effectivity Date||Closing|
|07 Dec 2010||-||07 Dec 2010||30 Sep 2012||31 Oct 2016||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|0.00||1,100,000.00||0.00||0.00||0.00||0.00||1,100,000.00||07 Dec 2010||452,357.34|
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.
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|Title||Document Type||Document Date|
|Broadening Investor Base for Local Currency Bonds in ASEAN+3||Technical Assistance Reports||Dec 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
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