Cambodia: Inclusive Financial Sector Development Program, Subprogram 3
The program directly supports reforms outlined in the government's National Strategic Development Plan, 2019 2023, the Financial Sector Development Strategy (FSDS), 2016 2025, and Cambodia's commitment to implement the Association of Southeast Asian Nations (ASEAN) special declaration on Coronavirus Disease (COVID-19).
Under subprogram 3, the government has implemented the national financial inclusion strategy and key legislation adopted under subprogram 2, and launched several initiatives to increase access to finance, including Cambodia's first ever public SME credit guarantee scheme (CGS) to support COVID-19 recovery and beyond. The government has also made significant strides to preserve financial stability and improve crisis management.
Project Details
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Project Officer
Ainabe, Benita
Southeast Asia Department
Request for information -
Country/Economy
Cambodia -
Sector
- Finance
Related Projects
| Project Name | Inclusive Financial Sector Development Program, Subprogram 3 | ||||
| Project Number | 44263-016 | ||||
| Country / Economy | Cambodia |
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| Project Status | Closed | ||||
| Project Type / Modality of Assistance | Loan |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Finance / Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Money and capital markets |
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| Gender Equity and Mainstreaming | Effective gender mainstreaming | ||||
| Description | The program directly supports reforms outlined in the government's National Strategic Development Plan, 2019 2023, the Financial Sector Development Strategy (FSDS), 2016 2025, and Cambodia's commitment to implement the Association of Southeast Asian Nations (ASEAN) special declaration on Coronavirus Disease (COVID-19). Under subprogram 3, the government has implemented the national financial inclusion strategy and key legislation adopted under subprogram 2, and launched several initiatives to increase access to finance, including Cambodia's first ever public SME credit guarantee scheme (CGS) to support COVID-19 recovery and beyond. The government has also made significant strides to preserve financial stability and improve crisis management. |
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| Project Rationale and Linkage to Country/Regional Strategy | The program represents a long-term partnership between the Asian Development Bank (ADB) and the Government of Cambodia to develop an efficient and stable financial sector and to increase financial inclusion. This subprogram will build on reforms achieved under subprogram 2 by: (i) increasing access to finance; (ii) enhancing financial sector stability; and (iii) upgrading financial infrastructure to support the introduction of new financial services and products. | ||||
| Impact | Sound, efficient, diversified, and inclusive market-based financial system developed | ||||
| Project Outcome | |
|---|---|
| Description of Outcome | Inclusiveness, stability, and infrastructure of Cambodia's financial sector improved |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | The program is not expected to have any environmental impacts. |
| Involuntary Resettlement | None of the program activities involve resettlement. |
| Indigenous Peoples | The program does not have potential impacts to the indigenous peoples. |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Ainabe, Benita |
| Responsible ADB Department | Southeast Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
| Executing Agencies |
National Bank of Cambodia Tal Nay Im P.O. Box 25 22-24 Norodom Blvd. Phnom Penh, Cambodia |
| Timetable | |
|---|---|
| Concept Clearance | 06 Nov 2013 |
| Fact Finding | 16 Nov 2020 to 20 Nov 2020 |
| MRM | 30 Jul 2021 |
| Approval | 15 Oct 2021 |
| Last Review Mission | - |
| Last PDS Update | 15 Oct 2021 |
Loan 4128-CAM
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 15 Oct 2021 | 08 Dec 2021 | 23 Feb 2022 | 31 Dec 2021 | 31 Mar 2022 | 31 Mar 2022 |
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 40.00 | Cumulative Contract Awards | |||
| ADB | 40.00 | 17 Jun 2022 | 40.00 | 0.00 | 100% |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | 17 Jun 2022 | 40.00 | 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.
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| Title | Document Type | Document Date |
|---|---|---|
| Loan Agreement (Ordinary Operations [Concessional]) for Loan 4128-CAM: Inclusive Financial Sector Development Program, Subprogram 3 | Loan Agreement (Ordinary Resources) | Dec 2021 |
| Inclusive Financial Sector Development Program, Subprogram 3: Report and Recommendation of the President | Reports and Recommendations of the President | Sep 2021 |
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.
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Tenders
No tenders for this project were found.
Contracts Awarded
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Procurement Plan
None currently available.