Regional : Building Financial Resilience and Stability to Reinvigorate Growth
1.The proposed knowledge and support technical assistance (TA) will strengthen the macroeconomic stability, financial resilience, and capacity of the Association of Southeast Asian Nations (ASEAN)+3 policy makers to craft strategic agenda, and identify policy priorities and directions that can help countries manage both the short-term risks and medium-term vulnerabilities emanating from increasing interconnectedness, rapid technology advances, recurring financial volatilities and crises, and uncertainties from disease outbreaks or epidemics, climate change and economic policy shocks such as trade tension, through research, database solutions, and knowledge events. It aims to support ADB's mandate and work on regional cooperation and integration (RCI) and improve macro- and micro-prudential regulation, and supervision of financial institutions.
Project Details
-
Project Officer
Avendano Pabon, Rolando
Economic Research and Development Impact Department
Request for information -
Country/Economy
Regional -
Sector
- Finance
Project Name | Building Financial Resilience and Stability to Reinvigorate Growth | ||||||||||
Project Number | 53317-001 | ||||||||||
Country / Economy | Regional Bangladesh Cambodia Indonesia Lao People's Democratic Republic Malaysia Mongolia Myanmar Nepal Philippines Sri Lanka Thailand Viet Nam |
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Project Status | Active | ||||||||||
Project Type / Modality of Assistance | Technical Assistance |
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Source of Funding / Amount |
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Operational Priorities | OP2: Accelerating progress in gender equality OP6: Strengthening governance and institutional capacity OP7: Fostering regional cooperation and integration |
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Sector / Subsector | Finance / Banking systems and nonbank financial institutions - Infrastructure finance and investment funds |
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Gender | Some gender elements | ||||||||||
Description | 1.The proposed knowledge and support technical assistance (TA) will strengthen the macroeconomic stability, financial resilience, and capacity of the Association of Southeast Asian Nations (ASEAN)+3 policy makers to craft strategic agenda, and identify policy priorities and directions that can help countries manage both the short-term risks and medium-term vulnerabilities emanating from increasing interconnectedness, rapid technology advances, recurring financial volatilities and crises, and uncertainties from disease outbreaks or epidemics, climate change and economic policy shocks such as trade tension, through research, database solutions, and knowledge events. It aims to support ADB's mandate and work on regional cooperation and integration (RCI) and improve macro- and micro-prudential regulation, and supervision of financial institutions. The TA proposes to undertake: (i) production of knowledge products that will identify regional and national knowledge solutions and disseminate strategic policy advice; (ii) establishment of an electronic library and information platforms and/or database solutions that will enhance access to data, information, and knowledge for 8 selected DMCs; and (iii) delivery of capacity building seminars and South-South policy dialogue to exchange experience, lessons, and policy recommendations to help these 8 selected DMCs respond to shocks. The targeted economies are Bangladesh, Cambodia, Lao PDR, Mongolia, Myanmar, Nepal, Sri Lanka, and Viet Nam. These economies are selected based on their income level, size, economic vulnerabilities they face, development stage of their financial sector, and the capacity of their governments to manage shocks to their financial sector. |
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Project Rationale and Linkage to Country/Regional Strategy | The velocity of growth and development is increasing and we are bound to see larger fluctuations in economic growth due to big shocks emanating from financial crisis, technology disruptions, commodity crisis, climate change disasters, health-related issues like epidemics, cyber-attacks, financial and policy uncertainties, and threats from geopolitical dynamicswhich will inevitably trigger fallout affecting economic growth. These volatility and uncertainty will occur at an exponential rate, with impact spread with speed, intensity, and diversity affecting many countries. Therefore, building resilience and nurturing capacity to craft policies and build strategic agenda to cope with these challenges is imperative. While crises and resilience-related studies exist, research agenda remains large as best practices evolve to respond to these shocks. New markets and economic geographies are also emerging, such as the evolution of platform economies, which are changing the way markets operate with important implications on fiscal policies, labor markets, social safety nets, and regulations. New regional alliances are also developing through the creation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the ASEAN's Regional Comprehensive Economic Partnership (RCEP), and the PRC's Belt and Road Initiative (BRI). Understanding the implications of these new markets and economic geographies is important so that the region and countries can adapt to and use these changes to their advantage. The proposed TA will respond to the need for improving the wealth of knowledge and existing mechanisms toward building and ensuring financial resilience and stability to invigorate growth. The TA will also encourage participation and collaboration with and among regional institutions such as ASEAN and ASEAN+3 Macroeconomic Research Office (AMRO) in undertaking the proposed solutions to the aforementioned challenges. |
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Impact | The project is aligned with effects of shocks and their impact contained through greater macroeconomic stability and financial resilience. |
Project Outcome | |
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Description of Outcome | Greater macroeconomic stability and financial resilience achieved. |
Progress Toward Outcome | |
Implementation Progress | |
Description of Project Outputs | Knowledge products with regional and country-level policy recommendations delivered. Electronic library and information platforms established. Knowledge sharing events for the 8 selected DMCs conducted. |
Status of Implementation Progress (Outputs, Activities, and Issues) | |
Geographical Location | Bangladesh - Nation-wide; Cambodia - Nation-wide; Indonesia - Nation-wide; Lao People's Democratic Republic - Nation-wide; Malaysia - Nation-wide; Mongolia - Nation-wide; Myanmar - Nation-wide; Nepal - Nation-wide; Philippines - Nation-wide; Sri Lanka - Nation-wide; Thailand - Nation-wide; Viet Nam - Nation-wide |
Summary of Environmental and Social Aspects | |
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Environmental Aspects | |
Involuntary Resettlement | |
Indigenous Peoples | |
Stakeholder Communication, Participation, and Consultation | |
During Project Design | |
During Project Implementation |
Responsible ADB Officer | Avendano Pabon, Rolando |
Responsible ADB Department | Economic Research and Development Impact Department |
Responsible ADB Division | Regional Cooperation and Integration Division (ERCI) |
Executing Agencies |
Asian Development Bank |
Timetable | |
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Concept Clearance | 27 Mar 2020 |
Fact Finding | 01 Jun 2020 to 31 Jul 2020 |
MRM | - |
Approval | 21 Nov 2020 |
Last Review Mission | - |
Last PDS Update | 21 Nov 2020 |
TA 6592-REG
Milestones | |||||
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Approval | Signing Date | Effectivity Date | Closing | ||
Original | Revised | Actual | |||
21 Nov 2020 | - | 21 Nov 2020 | 30 Sep 2023 | 30 Sep 2024 | - |
Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
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ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
Gov | Beneficiaries | Project Sponsor | Others | |||||
100,000.00 | 1,200,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,300,000.00 | 03 Nov 2023 | 389,480.94 |
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.
Title | Document Type | Document Date |
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Building Financial Resilience and Stability to Reinvigorate Growth: Technical Assistance Report | Technical Assistance Reports | Nov 2020 |
Building Financial Resilience and Stability to Reinvigorate Growth: Procurement Plan | Procurement Plans | Nov 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.
Related Publications
Title | Document Type | Document Date |
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Climate Change and Climate Finance: Current Experience and Future Directions | Books | Sep 2023 |
Redefining Strategic Routes to Financial Resilience in ASEAN+3 | Books | Dec 2021 |
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
Tender Title | Type | Status | Posting Date | Deadline |
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Machine Learning Programmer | Individual - Consulting | Closed | ||
Economic Analyst | Individual - Consulting | Closed | ||
Software Programmer | Individual - Consulting | Closed | ||
Economist/Data Scientist | Individual - Consulting | Closed | ||
Economist/Finance Sector Specialist (Eminent Book Reviewer - 1) | Individual - Consulting | Closed | ||
Economist/Data Scientist | Individual - Consulting | Closed |
Contracts Awarded
Procurement Plan
Title | Document Type | Document Date |
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Building Financial Resilience and Stability to Reinvigorate Growth: Procurement Plan | Procurement Plans | Nov 2020 |