Regional : Promotion of International Arbitration Reform for Better Investment Climate in the South Pacific
The proposed TA aims to catalyze the establishment of one single and effective commercial dispute resolution regime through international arbitration reform to boost international investor confidence in the Pacific DMCs. The TA has 3 main components: (i) assisting selected Pacific DMCs in acceding to the NY Convention; (ii) drafting new or updated arbitration laws to recognize the international arbitration agreements and implement the NY Convention; and (iii) strengthening capacity for international arbitration reforms through regional awareness building and dissemination workshops and training of arbitrators and judges on international commercial arbitration and recognition and enforcement proceedings under the NY Convention.
Project Details
-
Project Officer
Pak, Christina U.
Office of the General Counsel
Request for information -
Country/Economy
Regional -
Modality
-
Sector
- Public sector management
- Project Name
- Promotion of International Arbitration Reform for Better Investment Climate in the South Pacific
- Project Number
- 50114-001
- Country / Economy
- Regional
- Project Status
- Closed
- Project Type / Modality of Assistance
- Technical Assistance
- Source of Funding / Amount
-
TA 9227-REG: Promotion of International Arbitration Reform for Better Investment Climate in the South Pacific Source Amount Technical Assistance Special Fund US$ 500,000.00 TA 9227-REG: Promotion of International Arbitration Reform for Better Investment Climate in the South Pacific (Supplementary) Source Amount Technical Assistance Special Fund US$ 150,000.00 TA 9227-REG: Promotion of International Arbitration Reform for Better Investment Climate in the South Pacific (2nd Supplementary) Source Amount Regional Cooperation and Integration Fund US$ 500,000.00 TA 9227-REG: Promotion of International Arbitration Reform for Better Investment Climate in the South Pacific (Supplementary) Source Amount Technical Assistance Special Fund US$ 500,000.00 - Strategic Agendas
- Inclusive economic growth
- Regional integration
- Drivers of Change
- Gender Equity and Mainstreaming
- Governance and capacity development
- Knowledge solutions
- Private sector development
- Sector / Subsector
Public sector management / Law and judiciary
- Gender
- Some gender elements
- Description
- The proposed TA aims to catalyze the establishment of one single and effective commercial dispute resolution regime through international arbitration reform to boost international investor confidence in the Pacific DMCs. The TA has 3 main components: (i) assisting selected Pacific DMCs in acceding to the NY Convention; (ii) drafting new or updated arbitration laws to recognize the international arbitration agreements and implement the NY Convention; and (iii) strengthening capacity for international arbitration reforms through regional awareness building and dissemination workshops and training of arbitrators and judges on international commercial arbitration and recognition and enforcement proceedings under the NY Convention.
- Project Rationale and Linkage to Country/Regional Strategy
The TA is tightly and synergistically aligned with ADB's highest priorities including those articulated in ADB's Strategy 2020 and the Midterm Review of Strategy 2020 which reemphasized the importance of private sector development and regional cooperation and integration. The TA sits within the mandate and objective of ADB to attend to needs of less developed countries to provide assistance that will contribute to the economic growth of a region as a whole and to promote regional cooperation. This is particularly so because international arbitration is a gateway to regional and international investor confidence. The TA is also aligned with the regional development goals to strengthen legal framework to support economic development in the Pacific DMCs. Furthermore, the governments of the Pacific DMCs have set out private sector development as an important development agenda and calls for reforms to develop the private sectors and remove barriers to development.
In addition, the TA will build upon the assessments and recommendations made under the Pacific Private Sector Development Initiative (PSDI), a regional technical assistance facility co-financed by ADB, the Government of Australia and the New Zealand Government which recommends the updating of the relevant legal framework to allow for recognition and enforcement of foreign arbitral awards as part of business law reforms in the Pacific DMCs.
- Impact
Increased foreign investor confidence leading to greater economic development potential in the Pacific DMCs
Project Outcome
- Description of Outcome
An effective international commercial dispute resolution and enforcement regime established in the selected Pacific DMCs
- Progress Toward Outcome
Implementation Progress
- Description of Project Outputs
(i) Deposit by selected Pacific DMCs of a binding instrument for accession to the NY Convention.
(ii) Final drafts of new or updated arbitration law to implement the NY Convention and reflect modern international arbitration standards in selected Pacific DMCs
(iii) Strengthened capacity for international arbitration reforms through regional awareness building and dissemination workshops and tailored trainings of arbitrators, lawyers and judges in international commercial arbitration and recognition and enforcement proceedings under the NY Convention.
- Status of Implementation Progress (Outputs, Activities, and Issues)
- Geographical Location
- Regional
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
International Consultants
- Commercial Arbitration Experts (2; 6 persons months each; intermittent)
National Consultants
- National Legal Experts in participating Pacific developing member countries (1 person month each; intermittent)
- Project Coordinator (3 person months; intermittent)
- Procurement
- Not applicable.
Contact
- Responsible ADB Officer
- Pak, Christina U.
- Responsible ADB Department
- Office of the General Counsel
- Responsible ADB Division
- Office of the General Counsel
- Executing Agencies
-
Asian Development Bank
Timetable
- Concept Clearance
- 30 Mar 2016
- Fact Finding
- 09 May 2016 to 26 May 2016
- MRM
- -
- Approval
- 08 Nov 2016
- Last Review Mission
- -
- Last PDS Update
- 05 Apr 2016
Funding
TA 9227-REG
| Approval | Signing Date | Effectivity Date | Closing | ||
|---|---|---|---|---|---|
| Original | Revised | Actual | |||
| 08 Nov 2016 | - | 08 Nov 2016 | 31 Dec 2019 | 30 Jun 2021 | 01 Sep 2021 |
| ADB | Cofinancing | Counterpart | Total | |||
|---|---|---|---|---|---|---|
| Gov | Beneficiaries | Project Sponsor | Others | |||
| 1,650,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,650,000.00 |
| Date | Amount |
|---|---|
| 17 Jun 2022 | 1,455,626.91 |
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.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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| Title | Document Type | Document Date |
|---|---|---|
| Promotion of International Arbitration Reform for Better Investment Climate in the South Pacific: Technical Assistance Report | Technical Assistance Reports | Nov 2016 |
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
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Related Publications
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Requests for information may also be directed to the InfoUnit.
Papua New Guinea Accedes to New York Convention on Arbitration
Papua New Guinea has become the 160th country to accede to the United Nations (UN) Convention on the Recognition and Enforcement of Foreign Arbitral Awards, known as the New York Convention.
Tenders
Contracts Awarded
Procurement Plan
None currently available.