Bhutan: Capital Market Development

Sovereign Project | 46300-001 Status: Active

Project Details

Project Officer
Shah, Syed Ali-Mumtaz H. South Asia Department Request for information
  • Bhutan
  • Technical Assistance
  • Finance
Project Name Capital Market Development
Project Number 46300-001
Country Bhutan
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8280-BHU: Capital Market Development
Technical Assistance Special Fund US$ 1.25 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Finance - Money and capital markets

Gender Equity and Mainstreaming
Project Rationale and Linkage to Country/Regional Strategy

Project Outcome

Description of Outcome
Progress Toward Outcome Completed.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

The contract with the consulting firm, Aries Group Ltd, and various individual consultants are now completed. In addition, several training sessions have been held. Equipment has been procured under the TA.

A portion of the undisbursed balance was utilized to recruit several individual consultants to support the BHU: Strengthening Economic Management Program. This is completed.

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

Business Opportunities

Consulting Services A team of 7 international consultants will provide a total of 17.5 person-months of consulting services. Consulting services will commence in December 2012 and conclude by December 2014. The selection of the consultant firm for 5 consultants will be based on the submission of a simplified technical proposal and effected by the standard quality- and cost-based selection process (quality cost ratio of 80:20) while 2 consultants will be engaged individually (i.e. the Bond Expert and Banking Sector Expert). The consultants will be engaged by ADB in accordance with the Guidelines on the Use of Consultants by ADB and its Borrowers (2010, amended from time to time). The individual consultants will be recruited by following the Individual Consultant Selection (ICS) method. All procurement will be done in accordance with ADB's Procurement Guidelines (2010, as amended from time to time).

Responsible Staff

Responsible ADB Officer Shah, Syed Ali-Mumtaz H.
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Ministry of Finance
Royal Government of Bhutan
Thimphu, Bhutan
Attention: Director


Concept Clearance -
Fact Finding -
Approval -
Last Review Mission -
Last PDS Update 09 Mar 2017

TA 8280-BHU

Approval Signing Date Effectivity Date Closing
Original Revised Actual
14 Dec 2012 29 Jan 2013 29 Jan 2013 31 Dec 2015 30 Jun 2017 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,250,000.00 0.00 0.00 0.00 0.00 0.00 1,250,000.00 14 Dec 2012 1,013,213.75

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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None currently available.

Evaluation Documents See also: Independent Evaluation

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Related Publications

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No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.