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Timor-Leste: Expansion of Financial Services

Sovereign (Public) Project | 47002-001 Status: Active

Project Details

Project Officer
Hattel, Kelly L. Southeast Asia Department Request for information
Country
  • Timor-Leste
Sector
  • Finance
 
Project Name Expansion of Financial Services
Project Number 47002-001
Country Timor-Leste
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8762-TIM: Expansion of Financial Services
Technical Assistance Special Fund US$ 750,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
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 The TA supported the commercial transformation of BNCTL, including commercial strategy development and implementation of a new core banking technology platform in October 2017. This resulted in BNCTL broadening its product offerings and thus increasing access to a range of financial services available for the Timorese population. The TA also improved operational and financial performance of BNCTL, creating the foundation for a sustainable commercial banking operation. Additional financing of A$400,000 from the Australian Government in mid-2017 was utilized to strengthen BNCTL's audit and risk management functions. The current round of co-financing (approved in July 2018) from the Australian government focuses on improving corporate governance and risk management.A total of six international consultants were engaged in the past on an intermittent basis by the TA: a transformation manager (21.6 person-months), a bank operations advisor (7.7 person-months), a bank information technology expert (8.2 person-months), a Credit Risk Management Expert (5.6 person-months), an Operational Risk Expert (6.8 person-months), and a Compliance Expert (6.1 person-months). Currently, two risk and governance experts are engaged on an intermittent basis to improve BNCTL's governance and risk management. These international experts will also support the new BNCTL Board formulate and implement a new commercial banking strategy.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues) The TA supported the commercial transformation of BNTCL, including commercial strategy development and implementation of a new core banking technology platform in October 2017. Output 1 supported the finalization of the road map and action plan for comprehensive institutional strengthening. This was achieved with the BNTCL board members' approval of the gender-sensitive road map and action plan in Q1 2016. Output 2 supported the effective and efficient application of commercial banking principles by the management and staff of BNTCL.Majority of the activities have been completed while others are either ongoing or pending subject to the appointment of the new board of directors of BNTCL. The TA completion date was extended to 31 Dec 2020 to allow completion of TA support to BNCTL.As of 30 September 2020.The TA engaged consultants to strengthen the capacity of the Board and Management of Banco Nacional de Comercio de Timor Leste (EA & IA of the TA). The extension of the closing date will allow completion of the TA's support to the EA.
Geographical Location
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design The TA fact-finding mission concluded with a memorandum of understanding outlining agreed impact, outcome, outputs, implementation arrangements, and outline terms of reference for consultants. The TA was discussed with BNCTL; development partners and government agencies.
During Project Implementation The project team continues to consult with BNCTL; development partners and government agencies.
Business Opportunities
Consulting Services

A total of six international consultants were engaged on an intermittent basis by the TA: a transformation manager (21.6 person-months), a bank operations advisor (7.7 person-months), a bank information technology expert (8.2 person-months), a Credit Risk Management Expert (5.6 person-months), an Operational Risk Expert (6.8 person-months), and a Compliance Expert (6.1 person-months).

The additional cofinancing coverd intermittent international consultant inputs of approximately 6.4 months

Procurement N/A
Responsible ADB Officer Hattel, Kelly L.
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Banco Nacional de Com rcio de Timor-Leste
Ave.Martires da Patria Mandarin
Dili, Timor Leste
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval -
Last Review Mission -
Last PDS Update 30 Sep 2020

TA 8762-TIM

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
20 Nov 2014 30 Dec 2014 30 Dec 2014 30 Jun 2018 31 Dec 2020 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
750,000.00 0.00 0.00 0.00 0.00 0.00 750,000.00 20 Nov 2014 1,068,672.00

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
Expansion of Financial Services: Technical Assistance Report Technical Assistance Reports Dec 2014

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.

Tenders

Tender Title Type Status Posting Date Deadline
Risk and Corporate Governance Expert Individual - Consulting Closed 19 Sep 2018 25 Sep 2018
Finance Risk Specialist Individual - Consulting Closed 02 Dec 2017 08 Dec 2017
Credit Risk Expert Individual - Consulting Closed 10 Aug 2017 23 Aug 2017
Transformation Manager Individual - Consulting Closed 01 Aug 2017 07 Aug 2017
Compliance Risk Expert Individual - Consulting Closed 18 Jul 2017 24 Jul 2017
Operational Risk Expert Individual - Consulting Closed 18 Jul 2017 24 Jul 2017

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.