50374-001: Strengthening Financial Sector Operations in Asia and the Pacific | Asian Development Bank

Regional: Strengthening Financial Sector Operations in Asia and the Pacific

Sovereign (Public) Project | 50374-001 Status: Active

The proposed knowledge and support technical assistance (TA) will support the operational departments expand investment opportunities to DMCs in finance sector development, inclusive finance, and infrastructure finance through demonstrating new solutions with financial innovation, including in new and emerging areas (such as digital, green, disaster risk, Islamic, municipal, and agri-finance) that can be piloted, scaled and replicated.

Project Details

Project Officer
Schou-Zibell, Anna Charlotte SDSC Request for information
Country
  • Regional
Modality
  • Technical Assistance
Sector
  • Finance
 
Project Name Strengthening Financial Sector Operations in Asia and the Pacific
Project Number 50374-001
Country Regional
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 9364-REG: Strengthening Financial Sector Operations in Asia and the Pacific
Financial Sector Development Partnership Special Fund US$ 750,000.00
Technical Assistance Special Fund US$ 500,000.00
TA 9364-REG: Strengthening Financial Sector Operations in Asia and the Pacific (Supplementary)
High Level Technology Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Knowledge solutions
Partnerships
Sector / Subsector

Finance / Finance sector development - Inclusive finance

Gender Equity and Mainstreaming Some gender elements
Description The proposed knowledge and support technical assistance (TA) will support the operational departments expand investment opportunities to DMCs in finance sector development, inclusive finance, and infrastructure finance through demonstrating new solutions with financial innovation, including in new and emerging areas (such as digital, green, disaster risk, Islamic, municipal, and agri-finance) that can be piloted, scaled and replicated.
Project Rationale and Linkage to Country/Regional Strategy
Impact Enabling environment to increase investment opportunities in domestic financial markets of DMCs improved through enhanced quality of operational support
Project Outcome
Description of Outcome Capacity of DMCs to promote finance sector development enhanced at the national level
Progress Toward Outcome

Organized the Second Asia Finance Forum on 8- 10 November 2017 at ADB Headquarters.

Pilot projects for MON and GEO are both in the process of selecting and eligible solution providers. Evaluation of project costs and implementation schedule of submitted bidding proposals are ongoing.

Implementation Progress
Description of Project Outputs

Pilot projects for investment opportunities in emerging finance sector areas identified

Cross-sector knowledge on financial solutions delivered

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

A Legal Specialist was recruited on 6 June to support Project design and implementation by providing advice on all legal and regulatory matters relating to the MON pilot project. The draft participation agreement has been reviewed by ADB and ready for signing by the 3 NBFIs. RFP for potential service providers has been drafted and circulated for review with target issuance on 25 July with deadline for submission of RFP by solution providers on 15 August. RFP is currently being evaluated and scored by the 3 NBFIs. Implementation agreement is being drafted and reviewed.

Finca Georgia announced open tender to select an eligible solution provider on 15 March. 6 proposals were received during the open biding and Finca undertook careful screening of each proposed solutions and were able to shortlist 2 candidates. Assessment of project cost and implementation schedule is ongoing.

A consulting firm is being engaged to support the conduct of the study that will help promote affordable and accessible delivery of appropriate connectivity and to reap the benefits of digitization across different dimensions of society, with a focus on last mile access to finance and its cross-cutting effects on health, education, and rural and agriculture development in ADB DMCs.

The Second Asia Finance Forum: Fintech and Sustainable Development, held on 8- 10 November 2017 at ADB Headquarters, was organized in partnership with Asian Development Bank Institute, Alliance for Financial Inclusion, Bill and Melinda Gates Foundation, Consultative Group to Assist the Poor, and the Government of Luxembourg.

Geographical Location Regional
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design

Mission fielded to SRI on 15 -23 March for consultation to explore the feasibility of conducting a pilot project supporting a non-cash payment facility and e-billing system for water supply services in local governments. This will include exploring options for a digital approach of payment through mobile devices or prepaid cards enabling secure, convenient and affordable payment channels that will lower the cost of transactions.

Mission fielded to PNG on 19-22 June 2018 to explore the expansion of a pilot project carried out in 2017 in collaboration with the Bank of Papua New Guinea that integrates biometric authentication and blockchain technology with the objective to expand access to finance and to promote financial and social inclusion, especially to populations in areas with limited access to electricity and Internet.

During Project Implementation
Business Opportunities
Consulting Services

Both individual and firm consultants will be engaged under this TA.

With the minor change in implementation arrangement an additional national consultant will be recruited to support pilot projects in Mongolia.

Responsible ADB Officer Schou-Zibell, Anna Charlotte
Responsible ADB Department SDSC
Responsible ADB Division SDSC-FIN
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
Timetable
Concept Clearance 29 Jun 2017
Fact Finding -
MRM -
Approval 30 Aug 2017
Last Review Mission -
Last PDS Update 27 Sep 2018

TA 9364-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
30 Aug 2017 - 30 Aug 2017 31 Dec 2020 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,250,000.00 500,000.00 0.00 0.00 0.00 0.00 1,750,000.00 30 Aug 2017 703,323.22

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 Public Communications Policy (PCP) 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.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

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 Public Communications Policy (PCP) 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
Digital financial technology services expert Individual - Consulting Closed 02 Jun 2018 08 Jun 2018
Strengthening Financial Sector Operations in Asia and the Pacific Firm - Consulting Closed 12 May 2018 15 Jun 2018
Legal Specialist, National Individual - Consulting Closed 19 Apr 2018 02 May 2018
Research Associate Individual - Consulting Closed 26 Jan 2018 01 Feb 2018
Shared Platform Coordinator Individual - Consulting Closed 18 Nov 2017 24 Nov 2017
Manuscript Editor Individual - Consulting Closed 05 Sep 2017 11 Sep 2017
Finance Sector Expert Individual - Consulting Closed 05 Sep 2017 11 Sep 2017
Visual Communications Expert Individual - Consulting Closed 02 Sep 2017 08 Sep 2017
Project Coordinator Individual - Consulting Closed 29 Aug 2017 04 Sep 2017
Research Assistant Individual - Consulting Closed 29 Aug 2017 04 Sep 2017

Contracts Awarded

No contracts awarded for this project were found