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 Name||Supporting Sustainable Finance and Regional Cooperation|
|Country||China, People's Republic of
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Environmentally sustainable growth
Inclusive economic growth
|Drivers of Change||Governance and capacity development
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.|
Sustainable environment promoted.
Sustainable development and regional cooperation and integration promoted.
|Description of Outcome||Responsible and sustainable financing in the ASEAN, inclusive of GMS, and CAREC member countries, and the PRC improved|
|Progress Toward Outcome|
|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)|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|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|
|Concept Clearance||08 Sep 2020|
|Fact Finding||04 Nov 2020 to 05 Nov 2020|
|Approval||17 Dec 2020|
|Last Review Mission||-|
|Last PDS Update||04 Feb 2021|
|Approval||Signing Date||Effectivity Date||Closing|
|17 Dec 2020||31 Dec 2020||31 Dec 2020||31 Dec 2025||-||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|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.
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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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|
|Supporting Sustainable Finance and Regional Cooperation: Technical Assistance Report||Technical Assistance Reports||Dec 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
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|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|
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