Bangladesh: Supporting Post-COVID-19 Small-Scale Employment Creation Project
With the onset of the COVID-19 pandemic, government's efforts took on increased urgency and many short-term measures were put in place to provide immediate support for social protection and job protection. While most of the social protection measures were through direct cash or in-kind transfer and expansion of welfare programs, the support for industry and job protection will mostly be carried out through credit lines and liquidity support through financial sector. The total amount of credit lines, refinance programs, and credit protection schemes announced, has reached Tk1 trillion. But the retrenchment of the financial sector and capacity constraints present a challenge to deliver the funds timely and efficiently especially to reach certain highly vulnerable sectors.
Project Details
-
Project Officer
Zhang, Dongdong
South Asia Department
Request for information -
Approval Date
17 November 2021 -
Country
Bangladesh -
Sector
- Finance
| Project Name | Supporting Post-COVID-19 Small-Scale Employment Creation Project | ||||||||
| Project Number | 54336-001 | ||||||||
| Country | Bangladesh |
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| Project Status | Approved | ||||||||
| Project Type / Modality of Assistance | Loan Technical Assistance |
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| Source of Funding / Amount |
|
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Partnerships Private sector development |
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| Sector / Subsector |
Finance / Banking systems and nonbank financial institutions - Inclusive finance Public sector management / Public administration |
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| Gender Equity and Mainstreaming | Effective gender mainstreaming | ||||||||
| Description | With the onset of the COVID-19 pandemic, government's efforts took on increased urgency and many short-term measures were put in place to provide immediate support for social protection and job protection. While most of the social protection measures were through direct cash or in-kind transfer and expansion of welfare programs, the support for industry and job protection will mostly be carried out through credit lines and liquidity support through financial sector. The total amount of credit lines, refinance programs, and credit protection schemes announced, has reached Tk1 trillion. But the retrenchment of the financial sector and capacity constraints present a challenge to deliver the funds timely and efficiently especially to reach certain highly vulnerable sectors. | ||||||||
| Project Rationale and Linkage to Country/Regional Strategy | The project will help enhance the productivity and skills of the workforce, and create gainful employment opportunity, all of which are priority areas in ADB's country partnership strategy, 2016-2020 for Bangladesh, and is included in the country operations business plan, 2020-2022. The project is well aligned with the operational priorities of ADB's Strategy 2030. The project will help alleviate poverty by creating employment opportunities and supporting entrepreneurship (Operational Priority 1). The project will help strengthen governance and the institutional capacity of several key institutions crucial for employment creation (Operational Priority 6), and support gender equality by incorporating gender elements by providing inclusive financing and gender sensitive capacity building activities (Operational Priority 2). Moreover, in line with ADB's Strategy 2030, the project will help promote private sector development. Given the severe challenge of COVID-19, the needs by the country in all these areas take on much increased urgency and the impact of ADB support is magnified. | ||||||||
| Impact | Rapid recovery for COVID-19 to restore employment, income and economic activities (Eighth Five Year Plan, July 2020-June 2025) | ||||||||
| Project Outcome | |
|---|---|
| Description of Outcome | Adverse economic effects of COVID-19 on migrants, youth, and rural entrepreneurs mitigated |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Financial support to enterprises started or operated by migrants, rural enterprises, and youth from the formal banking sector increased Capacity of employment-supporting financial institutions strengthened Action plan for promoting formal banking sector support for cottage, micro, and small enterprises developed |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Safeguard Categories | |
|---|---|
| Environment | FI-C |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| 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 | Consulting services to be financed by the proposed attached TA will follow ADB Procurement Policy (2017, as amended from time to time) and Procurement Regulations for ADB Borrowers (2017, as amended from time to time). The recommended project procurement risk is low (Appendix 2). |
| Procurement | Procurement to be financed by the proposed attached TA will follow ADB Procurement Policy (2017, as amended from time to time) and Procurement Regulations for ADB Borrowers (2017, as amended from time to time). |
| Responsible ADB Officer | Zhang, Dongdong |
| Responsible ADB Department | South Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SARD |
| Executing Agencies |
Ministry of Finance Economic Relations Division (ERD), MOF Sher-e-Bangla Nagar, Dhaka_1207 Bangladesh |
| Timetable | |
|---|---|
| Concept Clearance | 06 Jul 2021 |
| Fact Finding | 13 Jul 2021 to 29 Jul 2021 |
| MRM | 17 Sep 2021 |
| Approval | 17 Nov 2021 |
| Last Review Mission | - |
| Last PDS Update | 17 Nov 2021 |
Loan 4142-BAN
| Financing Plan | Loan Utilization | ||||
|---|---|---|---|---|---|
| Total (Amount in US$ million) | Date | ADB | Others | Net Percentage | |
| Project Cost | 150.00 | Cumulative Contract Awards | |||
| ADB | 150.00 | - | 0.00 | 0.00 | % |
| Counterpart | 0.00 | Cumulative Disbursements | |||
| Cofinancing | 0.00 | - | 0.00 | 0.00 | % |
TA 6829-BAN
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 900,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 900,000.00 | - | 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.
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.
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| Title | Document Type | Document Date |
|---|---|---|
| Supporting Post- COVID-19 Small-Scale Employment Creation Project: Project Administration Manual | Project/Program Administration Manual | Oct 2021 |
| Supporting Post- COVID-19 Small-Scale Employment Creation Project: Gender Action Plan | Gender Action Plans | Oct 2021 |
| Supporting Post- COVID-19 Small-Scale Employment Creation Project: Report and Recommendation of the President | Reports and Recommendations of the President | Oct 2021 |
| Capacity Development for Post-COVID-19 Small-Scale Employment Creation: Technical Assistance Report | Technical Assistance Reports | Oct 2021 |
| Supporting Post COVID-19 Small Scale Employment Creation: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Jun 2021 |
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.
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ADB Lends $150 Million for Small Enterprises in Bangladesh
The Asian Development Bank has approved a $150 million loan to Bangladesh to provide financing for cottage, micro, and small-sized enterprises (CMSEs) operated by youth, returning migrant workers, and rural entrepreneurs...
Tenders
No tenders for this project were found.
Contracts Awarded
No contracts awarded for this project were found
Procurement Plan
None currently available.