fbpx 44263-016: Inclusive Financial Sector Development Program, Subprogram 3 | Asian Development Bank

Cambodia: Inclusive Financial Sector Development Program, Subprogram 3

Sovereign (Public) Project | 44263-016 Status: Proposed

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 Name Inclusive Financial Sector Development Program, Subprogram 3
Project Number 44263-016
Country Cambodia
Project Status Proposed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan: Inclusive Financial Sector Development Program, Subprogram 3
concessional ordinary capital resources lending / Asian Development Fund US$ 40.00 million
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Finance / Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Money and capital markets

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.

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
Outcome Inclusiveness, stability, and infrastructure of Cambodia's financial sector improved
Outputs
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
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 13 Apr 2021
Approval -
Last Review Mission -
Last PDS Update 30 Mar 2021

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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Tenders

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Procurement Plan

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