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China, People's Republic of: Supporting Sustainable Finance and Regional Cooperation

Sovereign (Public) Project | 54120-001 Status: Active

The knowledge and support technical assistance (TA) will promote responsible and sustainable financing in the People's Republic of China (PRC) and support regional learning and knowledge sharing. Specifically, the TA will (i) help financial sector regulators and institutions in the PRC adopt international best practices in responsible and sustainable finance; (ii) develop innovative financial sector products in areas such as green financing, blue financing, disaster risk financing, and longevity financing; and (iii) support the dissemination of the PRC experiences in these areas through the Asia and Pacific region, especially in the Association of Southeast Asian Nations (ASEAN) countries. Although the Greater Mekong Subregion (GMS) currently does not have a financial development platform, the sustainable finance knowledge and experiences can still be promoted.

Project Details

Project Officer
Huang, Anqian East Asia Department Request for information
Country
  • China, People's Republic of
Sector
  • Finance
 
Project Name Supporting Sustainable Finance and Regional Cooperation
Project Number 54120-001
Country China, People's Republic of
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA: Financial Sector Innovation, Institutional Development, and Regional Cooperation Support
Financial Sector Development Partnership Special Fund US$ 200,000.00
Regional Cooperation and Integration Fund US$ 803,000.00
Technical Assistance Special Fund US$ 497,000.00
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 / Finance sector development

Gender Equity and Mainstreaming No gender elements
Description The knowledge and support technical assistance (TA) will promote responsible and sustainable financing in the People's Republic of China (PRC) and support regional learning and knowledge sharing. Specifically, the TA will (i) help financial sector regulators and institutions in the PRC adopt international best practices in responsible and sustainable finance; (ii) develop innovative financial sector products in areas such as green financing, blue financing, disaster risk financing, and longevity financing; and (iii) support the dissemination of the PRC experiences in these areas through the Asia and Pacific region, especially in the Association of Southeast Asian Nations (ASEAN) countries. Although the Greater Mekong Subregion (GMS) currently does not have a financial development platform, the sustainable finance knowledge and experiences can still be promoted. The combined efforts are expected to generate meaningful regional public goods (RPG) through the delivery of environmental and social benefits and promote greater regional cooperation and integration (RCI) in financial sector development.
Project Rationale and Linkage to Country/Regional Strategy In line with the preparation of its 2021 2025 PRC country partnership strategy (CPS), ADB is focusing on and stepping up support for building climate change resilience, fostering environmental sustainability, and tackling emerging social issues (such as old age care) in the country. These areas all offer strong potential for creating RPGs. For the new CPS objectives to be met, the PRC's financial sector needs to take steps to become more effective and innovative in addressing the environmental and climate challenges, including a green economic recovery from the coronavirus disease (COVID-19). This includes the adoption of international best practices, particularly those needed to make its financing activities responsible and sustainable. Promoting RPGs and strengthening financial sector cooperation both feature prominently in ADB's Strategy 2030 operational priority of supporting RCI. In line with this goal, the TA will aim to expand the concepts, practices, and benefits of responsible and sustainable financing through the ASEAN+3's existing financial cooperation platforms. During the time of the preparation of this TA paper, the PRC Country Operations Business Plan 2019 2021 is still under preparation. The TA is included in the list of projects agreed between the Asian Development Bank and the Government of the PRC on 22 January 2020.
Impact

Sustainable environment promoted.

Sustainable development and regional cooperation and integration promoted.

Project Outcome
Description of Outcome Responsible and sustainable financing in the ASEAN, inclusive of GMS, and CAREC member countries, and the PRC improved
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Strategy, policy, and technical advice on responsible and sustainable finance in the PRC provided

Sustainable financial sector regulation and supervision systems strengthened

Innovative financial products developed

Regional cooperation and integration on responsible and sustainable financing promoted

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location 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
Business Opportunities
Consulting Services The TA will engage international and national consultants following the ADB Procurement Policy (2017, as amended from time to time).
Procurement No procurement of goods.
Responsible ADB Officer Huang, Anqian
Responsible ADB Department East Asia Department
Responsible ADB Division Public Mgt, Financial Sector and Regional Coop Division, EARD
Timetable
Concept Clearance 08 Sep 2020
Fact Finding 04 Nov 2020 to 05 Nov 2020
MRM -
Approval 17 Dec 2020
Last Review Mission -
Last PDS Update 04 Feb 2021

TA 6687-PRC

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
17 Dec 2020 31 Dec 2020 31 Dec 2020 31 Dec 2025 - -
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 17 Dec 2020 0.00

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.

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Safeguard Documents See also: Safeguards

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None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


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Tenders

Tender Title Type Status Posting Date Deadline
Technical Assistance Administrative Consultant Individual - Consulting Active 19 Feb 2021 04 Mar 2021
Technical Assistance Management Consultant (International) Individual - Consulting Active 19 Feb 2021 04 Mar 2021
Technical Assistance Implementation Consultant (National) Individual - Consulting Active 19 Feb 2021 04 Mar 2021

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.