The proposed knowledge and support regional technical assistance (TA) will support financial cooperation and integration among policy makers in the Association of Southeast Asian Nations (ASEAN) plus the People's Republic of China (PRC), Japan, and the Republic of Korea (collectively known as ASEAN+3) on the development of green local currency denominated bonds for infrastructure development in ASEAN+3.
| Project Name | Creating Ecosystems for Green Local Currency Bonds for Infrastructure Development in ASEAN+3 |
| Project Number | 53300-001 |
| Country | Regional Brunei Darussalam Cambodia Indonesia Korea, Republic of Lao People's Democratic Republic Malaysia Myanmar Philippines China, People's Republic of Singapore Thailand Viet Nam |
| Project Status | Proposed |
| Project Type / Modality of Assistance | Technical Assistance |
| Source of Funding / Amount | |
| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth Regional integration |
| Drivers of Change | Governance and capacity development Knowledge solutions Partnerships Private sector development |
| Sector / Subsector | Finance / Infrastructure finance and investment funds - Money and capital markets |
| Gender Equity and Mainstreaming | No gender elements |
| Description | The proposed knowledge and support regional technical assistance (TA) will support financial cooperation and integration among policy makers in the Association of Southeast Asian Nations (ASEAN) plus the People's Republic of China (PRC), Japan, and the Republic of Korea (collectively known as ASEAN+3) on the development of green local currency denominated bonds for infrastructure development in ASEAN+3. |
| Project Rationale and Linkage to Country/Regional Strategy | The proposed TA is designed to support the creation of necessary ecosystems to develop green local currency financing in the region based on the assessment and recommendations of the study on _Promoting Green Local Currency Bonds for Infrastructure Development in ASEAN+3_ which was submitted to and appreciated by the ASEAN+3 Finance Ministers and Central Bank Governors at their 21st meeting in Manila, the Philippines. Further, proposed TA will synchronize the activities with relevant regional initiatives such as the ASEAN Capital Markets Forum (ACMF), the ASEAN Working Committee on Capital Market Development (WC-CMD), Technical Assistance Coordination Team (TACT) under ABMI, and the Asia-Pacific Economic Cooperation Financial Regulators Training Initiative (APEC-FRTI). These activities include developing green local currency bond market, providing advisory services to potential issuers, support industry engagement and capacity building activities. |
| Impact | Financial stability, and support for infrastructure finance deepened (regional strategy) |
| Outcome | Green local currency denominated bonds for infrastructure finance increased. |
| Outputs | Regional facility to support green bond issuance established Demand for green bonds promoted |
| Geographical Location | Brunei Darussalam - Nation-wide; Cambodia - Nation-wide; China - Nation-wide; Indonesia - Nation-wide; Korea, Republic of - Nation-wide; Lao People's Democratic Republic - Nation-wide; Malaysia - Nation-wide; Myanmar - Nation-wide; Philippines - Nation-wide; Singapore - Nation-wide; Thailand - Nation-wide; Viet Nam - Nation-wide |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Kosintr Puongsophol |
| Responsible ADB Department | Economic Research and Regional Cooperation Department |
| Responsible ADB Division | Office of the Chief Economist, ERD |
| Executing Agencies |
Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550, Philippines |
| Timetable | |
|---|---|
| Concept Clearance | 23 Jul 2019 |
| Fact Finding | 08 Jul 2019 to 08 Jul 2019 |
| MRM | - |
| Approval | - |
| Last Review Mission | - |
| Last PDS Update | 02 Aug 2019 |
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.
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.
None currently available.
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 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.
Requests for information may also be directed to the InfoUnit.
Tenders
No tenders for this project were found.
Contracts Awarded
No contracts awarded for this project were found
Procurement Plan
None currently available.