44304-015: Microfinance Expansion Project (Additional Financing) | Asian Development Bank

Papua New Guinea: Microfinance Expansion Project (Additional Financing)

Sovereign (Public) Project | 44304-015 Status: Approved

Project Details

Project Officer
Hodge, Matthew W. Pacific Department Request for information
Country
  • Papua New Guinea
Sector
  • Finance
 
Project Name Microfinance Expansion Project (Additional Financing)
Project Number 44304-015
Country Papua New Guinea
Project Status Approved
Project Type / Modality of Assistance Grant
Source of Funding / Amount
Grant: Microfinance Expansion Project (additional financing)
Government of Australia US$ 243,990.00
Strategic Agendas Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Finance / Inclusive finance

Gender Equity and Mainstreaming Effective gender mainstreaming
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact
Project Outcome
Description of Outcome
Progress Toward Outcome

Partner financial institutions (PFIs) have strengthened capacity to improve operational efficiency and provide sustainable services to clients. Twenty seven new products have been developed in Q2 to meet the growing demands of clients such as loans for fisheries, agriculture and piggeries. Furthermore, credit practices have been tightened resulting in an improvement in the portfolio at risk from 48% to 17% over 3 years.

To ensure clients understand the products and services available to them, financial education training has been delivered to over 170,000 people.

Progress to date is on track to meet the outcome of PFIs sustainably and safely providing financial services to an increased number of clients across PNG.

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

26 products designed as of March 2017 with 20 products piloted.

Reporting is ongoing.

Financial literacy and business development skills training ongoing.

report is ongoing

Nine PFIs have been reporting on agreed indicators.

Three risk sharing agreements have been signed as of Q1 2017. The total value of loans covered by RSF is $4.73 million. RSF mid term evaluation was conducted in Q2 2017.

Project management framework undated for June 2017.

Geographical Location
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation The project partners with commercial banks, microbanks, NGOs, faith-based organizations and cooperatives to reach very remote parts of the country to facilitate financial education and link clients to the formal banking sector.
Responsible ADB Officer Hodge, Matthew W.
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Liaison and Coordination Office in Sydney, Australia
Executing Agencies
Bank of Papua New Guinea
Douglas St., P. O. Box 121
Port Moresby
Papua New Guinea
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval 05 Apr 2017
Last Review Mission -
Last PDS Update 21 Sep 2017

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Safeguard Documents See also: Safeguards

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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