51054-001: Banking Sector Rehabilitation and Financial Stability Strengthening Program | Asian Development Bank

Mongolia: Banking Sector Rehabilitation and Financial Stability Strengthening Program

Sovereign (Public) Project | 51054-001 Status: Active
 
Project Name Banking Sector Rehabilitation and Financial Stability Strengthening Program
Project Number 51054-001
Country Mongolia
Project Status Active
Project Type / Modality of Assistance Loan
Technical Assistance
Source of Funding / Amount
Loan 3533-MON: Banking Sector Rehabilitation and Financial Stability Strengthening Program
Ordinary capital resources US$ 100.00 million
TA 9320-MON: Banking Sector Rehabilitation and Financial Stability Strengthening Program
Technical Assistance Special Fund US$ 750,000.00
Financial Sector Development Partnership Special Fund US$ 750,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Sector / Subsector

Finance / Finance sector development

Gender Equity and Mainstreaming No gender elements
Description
Project Rationale and Linkage to Country/Regional Strategy
Impact The program is aligned with the government's Economic Recovery Plan, 2016 and will support the government's plans for a well-developed finance sector and a stable financial system that helps the poor and vulnerable.
Project Outcome
Description of Outcome Strengthened and stable banking industry
Progress Toward Outcome The loan was approved in May 2017 and became effective in July 2017. Subsequently all policy actions were deemed to have been met and the loan was disbursed in full in August 2017.
Implementation Progress
Description of Project Outputs

Framework for bank restructuring completed

Financial stability enhanced

Competition and governance strengthened

Status of Implementation Progress (Outputs, Activities, and Issues) All policy actions have been met. Recruitment is underway to contract a firm to perform support for project outcomes. It is expected that the firm will be in place and a first mission can be held in October or November.
Geographical Location Nation-wide
Safeguard Categories
Environment C
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects NA
Involuntary Resettlement NA
Indigenous Peoples NA
Stakeholder Communication, Participation, and Consultation
During Project Design Close discussion was held with the the Bank of Mongolia and the Ministry of Finance. Additional discussion was held with the Mongolian Bankers Association.
During Project Implementation Continued dialogue has been held with the Ministry of Finance, Bank of Mongolia and the Mongolian Bankers Association to track policy action compliance and monitor further progress.
Business Opportunities
Consulting Services ADB will engage TA consultants through a firm. Selection will follow ADB's Guidelines on the Use of Consultants (2013, as amended from time to time) using the quality- and cost-based method, with a quality cost ratio of 90:10, following a full technical proposal. The TA will provide 48 international and 31 national person-months of consulting services.
Responsible ADB Officer Giannetto, Giacomo G.
Responsible ADB Department East Asia Department
Responsible ADB Division Public Mgt, Financial Sector and Regional Coop Division, EARD
Executing Agencies
Ministry of Finance
[email protected]
Government Building-2
Negdsen Undestnii gudamj-5/1
Ulaanbaatar-210646, Mongolia
Timetable
Concept Clearance 02 Mar 2017
Fact Finding 06 Feb 2017 to 17 Feb 2017
MRM 14 Mar 2017
Approval 30 May 2017
Last Review Mission -
Last PDS Update 27 Sep 2017

Loan 3533-MON

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
30 May 2017 31 May 2017 31 Jul 2017 31 Dec 2017 - 03 Aug 2017
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 100.00 Cumulative Contract Awards
ADB 100.00 30 May 2017 100.00 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 30 May 2017 100.00 0.00 100%

TA 9320-MON

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
30 May 2017 23 Jun 2017 23 Jun 2017 31 Jul 2019 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,500,000.00 0.00 0.00 0.00 0.00 0.00 1,500,000.00 30 May 2017 111,549.00

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.

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.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


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Requests for information may also be directed to the InfoUnit.

Tenders

No tenders for this project were found.

Contracts Awarded

Contract Title Approval Number Contract Date Contractor Contractor Address Executing Agency Contract Description Total Contract Amount (US$) Contract Amount Financed by ADB (US$)
Capacity Development Technical Assistance 9320 11 Oct 2017 KOREA ASSET MANAGEMENT CORPORATION(KOREA, REPUBLIC OF) in association with FINANCIAL ACCESS CAPITAL PARTNERS B.V.(NETHERLANDS) ASEM TOWER, WORLD TRADE CENTER 159-1 SAMSUNG-DONG, KANGNAM-KU SEOUL 135-798, KOREA Consulting Services 1259000

Procurement Plan

None currently available.