The proposed Improving Financial Access and Entrepreneurship Development Project will aim to expand the financial access and entrepreneurial capabilities of households and micro, small, and medium-sized enterprises (MSMEs) by strengthening financial intermediation in Papua New Guinea (PNG). To support the government's implementation of its financial sector development strategy and financial inclusion and small and medium-sized enterprise (SME) policies, the proposed project will help (i) improve the financial capacity, behaviors, and access of both men and women in households; (ii) improve the financial management and planning skills of MSMEs owned by both women and men, including MSMEs that develop and deploy solutions for health care; (iii) improve the business and product management capacity of participating financial institutions (PFIs); (iv) increase the use of digital financial services (DFS); and (v) strengthen the regulatory environment for microfinancing.
|Project Name||Preparing the Improving Financial Access and Entrepreneurship Development Project|
|Country||Papua New Guinea
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Gender Equity and Mainstreaming
Governance and capacity development
Private sector development
|Sector / Subsector||
Finance / Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Small and medium enterprise finance and leasing
|Gender Equity and Mainstreaming||Effective gender mainstreaming|
|Description||The proposed Improving Financial Access and Entrepreneurship Development Project will aim to expand the financial access and entrepreneurial capabilities of households and micro, small, and medium-sized enterprises (MSMEs) by strengthening financial intermediation in Papua New Guinea (PNG). To support the government's implementation of its financial sector development strategy and financial inclusion and small and medium-sized enterprise (SME) policies, the proposed project will help (i) improve the financial capacity, behaviors, and access of both men and women in households; (ii) improve the financial management and planning skills of MSMEs owned by both women and men, including MSMEs that develop and deploy solutions for health care; (iii) improve the business and product management capacity of participating financial institutions (PFIs); (iv) increase the use of digital financial services (DFS); and (v) strengthen the regulatory environment for microfinancing. The proposed project will continue ADB's lead role in supporting greater financial inclusion in PNG through financial literacy programs and improving the capacity of microfinance institutions. It will address the very low levels of financial access in the population at large and among MSMEs that is weighing on entrepreneurship in a weakening economy and frustrates efforts to create jobs, raise incomes and reduce poverty.|
|Project Rationale and Linkage to Country/Regional Strategy||The transaction technical assistance (TA) is for project preparatory work to evaluate the approaches available, undertake necessary due diligence, identify the appropriate implementation arrangements, and design the project properly. Many of the project's subsequent activities will be based on this transaction TA study and analysis. The transaction TA will enable ADB to continue to consult relevant stakeholders up to and beyond the submission of the proposed project for ADB Board consideration, currently scheduled for the first quarter of 2021, and facilitate timely project start-up. The transaction TA will also provide support alongside ongoing consultations with government counterparts that will be important to the effective delivery of the intended project outputs. The transaction TA is in PNG country operations business plan for 2020-2022.|
|Description of Outcome|
|Progress Toward Outcome|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design||Government agencies, financial institutions, micro, small and medium-size enterprises, development partners and other stakeholders|
|During Project Implementation||Government agencies, financial institutions, micro, small and medium-size enterprises and development partners and other stakeholders|
|Consulting Services||ADB will engage consultants following ADB's Procurement Policy (2017, as amended from time to time), ADB's Procurement Regulations (2017, as amended from time to time) and the relevant staff instructions. Individual consultant selection is proposed for the recruitment of six lead international consultants to provide 52 person-months of intermittent services to design the Improving Financial Access and Entrepreneurship Development Project. The lead consultants will recruit specialist short-term consultants with required technical expertise for on-demand assignments, using the individual consultant selection method. Resource person contracts will also be considered for any immediate in-country support, including support for surveys and data collection. The requirements and lengths of the engagements will vary with the scope of work. The terms of reference for assignments by specialist consultants will be prepared by the lead consultants and submitted to the transaction TA supervising team for endorsement.|
|Responsible ADB Officer||Bharat, Vimlesh Vikash|
|Responsible ADB Department||Pacific Department|
|Responsible ADB Division||Pacific Liaison and Coordination Office in Sydney, Australia|
Bank of Papua New Guinea
Douglas St., P. O. Box 121
Papua New Guinea Department of Finance
Vulupindi Haus, P.O. Box 710
Waigani, Papua New Guinea Department of Treasury
6/F The Treasury Building, Lamana Road
P.O Box 542, Waigani Drive, NCD
Papua New Guinea
|Approval||30 Apr 2020|
|Last Review Mission||-|
|Last PDS Update||13 May 2020|
|Approval||Signing Date||Effectivity Date||Closing|
|30 Apr 2020||03 Jun 2020||03 Jun 2020||30 Jun 2022||-||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|750,000.00||0.00||37,500.00||0.00||0.00||0.00||787,500.00||30 Apr 2020||3,600.00|
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 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|
|Preparing the Improving Financial Access and Entrepreneurship Development Project: Technical Assistance Report||Technical Assistance Reports||Apr 2020|
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.
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.
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|Tender Title||Type||Status||Posting Date||Deadline|
|Project Coordinator||Individual - Consulting||Closed||13 Oct 2020||19 Oct 2020|
|Digital financial services expert||Individual - Consulting||Closed||25 Jun 2020||01 Jul 2020|
|Financial capacity building expert||Individual - Consulting||Closed||25 Jun 2020||01 Jul 2020|
|Gender expert||Individual - Consulting||Closed||25 Jun 2020||01 Jul 2020|
|MSME development expert||Individual - Consulting||Closed||14 May 2020||20 May 2020|
|Finance Sector Development expert||Individual - Consulting||Closed||23 Apr 2020||29 Apr 2020|
|Financial management expert||Individual - Consulting||Closed||16 Apr 2020||29 Apr 2020|
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