Timor-Leste: Expansion of Financial Services

Sovereign Project | 47002-001 Status: Active

Summary

The CDTA will support the commercial transformation of BNCTL through (i)support to the implementation of BNCTL's strategic and business plan, (ii) design and delivery of products (credit, savings, payments, trade finance) that are suited to the Timorese context and that are currently not available for a large part of the population; (iii) the introduction of technologies that improve efficiency; and (iv) building staff capacity and support for the commercial transformation of the institution to underpin commercial objectives and attract strategic investors.

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Procurement Documents

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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 Governance and capacity development
Partnerships
Private sector development
Sector / Subsector

Finance - Inclusive finance

Gender Equity and Mainstreaming Effective gender mainstreaming
Description The CDTA will support the commercial transformation of BNCTL through (i)support to the implementation of BNCTL's strategic and business plan, (ii) design and delivery of products (credit, savings, payments, trade finance) that are suited to the Timorese context and that are currently not available for a large part of the population; (iii) the introduction of technologies that improve efficiency; and (iv) building staff capacity and support for the commercial transformation of the institution to underpin commercial objectives and attract strategic investors.
Project Rationale and Linkage to Country/Regional Strategy The TA is aligned with the country partnership strategy (2011 2015) in that it helps to achieve economic growth and sharing of economic opportunities across the population. ADB's support in infrastructure, financial services and skills training helps to meet the needs of a growing economy and improve competitiveness of the private sector. It is a continuation of previous technical assistance provided and also intends to link or complement existing ADB projects, such as the Technical and Vocational Education and Training program and PSDI Phase III, or those of other development partners.
Impact Large portion of the population has access to and use a range of financial services

Project Outcome

Description of Outcome An improved BNCTL, growing and operating sustainably, consistent with its commercial banking license
Progress Toward Outcome The commercial transformation of BNCTL has completed its first phase. The TA is now in its second phase, supporting the implementation of the transformation plan.
Implementation Progress
Description of Project Outputs

BNCTL management and staff apply commercial banking principles efficiently and effectively

Road map and action plan for comprehensive institutional strengthening finalized

Status of Implementation Progress (Outputs, Activities, and Issues) The first phase of the TA has been successfully completed with the preparation of a transformation roadmap. The second phase has commenced with the fielding of the IT and Operations Advisors and the Transformation Manager.
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 The TA will be implemented over 42 months from 30 December 2014 to 30 June 2018, with phase one estimated to take 7 months and phase two 35 months. It is anticipated that a total of 22 person-months of intermittent international consulting services will be required to implement the TA. For phase one, an estimated 6 person-months (international, intermittent) of consulting services will be needed. This will be a banking operations advisor (3 person-months) and a banking information technology expert (3 person-months). The consulting input for phase two is unallocated and will be determined after phase one.
Procurement N/A

Responsible Staff

Responsible ADB Officer Hayden Everett
Responsible ADB Department Pacific Department
Responsible ADB Division Pacific Liaison and Coordination Office in Sydney, Australia
Executing Agencies
Banco Nacional de Com rcio de Timor-Leste
Ave.Martires da Patria Mandarin
Dili, Timor Leste

Timetable

Concept Clearance 08 Oct 2014
Fact Finding 08 Oct 2014 to 10 Oct 2014
MRM -
Approval 20 Nov 2014
Last Review Mission -
Last PDS Update 21 Sep 2016

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 - -
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 335,520.38
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.

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Evaluation Documents See also: Independent Evaluation

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Related Publications

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