Regional : Strengthening Ecosystem for Sustainable Finance in ASEAN+3
The proposed TA is designed to develop and strengthen ecosystem necessary to develop sustainable local currency financings in the region. Particularly, it is designed to increase supply of sustainable finance products, which include, but not limited to green, blue, social, sustainability, sustainability-linked bonds and loans. The proposed TA will expand and further the work done under the previous TA.
Project Details
-
Project Officer
Puongsophol, Kosintr
Economic Research and Development Impact Department
Request for information -
Country/Economy
Regional -
Sector
- Finance
| Project Name | Strengthening Ecosystem for Sustainable Finance in ASEAN+3 | ||||
| Project Number | 56122-001 | ||||
| Country / Economy | Regional Brunei Darussalam Cambodia Indonesia Korea, Republic of Lao People's Democratic Republic Malaysia Philippines China, People's Republic of Singapore 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 | OP6: Strengthening governance and institutional capacity OP7: Fostering regional cooperation and integration |
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| Sector / Subsector | Finance / Infrastructure finance and investment funds - Money and capital markets |
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| Gender | No gender elements | ||||
| Description | The proposed TA is designed to develop and strengthen ecosystem necessary to develop sustainable local currency financings in the region. Particularly, it is designed to increase supply of sustainable finance products, which include, but not limited to green, blue, social, sustainability, sustainability-linked bonds and loans. The proposed TA will expand and further the work done under the previous TA. | ||||
| Project Rationale and Linkage to Country/Regional Strategy | The proposed TA is included in the management-approved annual work program for the Economic Research and Regional Cooperation Department. It facilitates an open and dynamic consultation among all ASEAN+3 member countries and stakeholders concerned to ensure a broad-based consensus and ownership in implementing and managing ASEAN+3 Asian Bond Markets Initiative (ABMI), an initiative launched by ASEAN+3 governments to promote monetary and financial cooperation and integration in the region. The proposed TA will be implemented under the guidance of ASEAN+3 finance ministers and central bank governors as stipulated in the ABMI Medium-Term Road Map 20192022. | ||||
| Impact | Support for sustainable finance market development promoted |
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| Project Outcome | |
|---|---|
| Description of Outcome | Issuance of sustainable finance instruments promoted and capacity of regulators and capital market stakeholders strengthened |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Advisory support to increase supply of sustainable finance products provided. Knowledge support for policymakers and relevant stakeholders provided Green and/or blue project catalogue for financial institutions developed |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| 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; 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 | |
| Business Opportunities | |
|---|---|
| Consulting Services | Individual consultants will be recruited through competitive selection, direct contracting, and framework agreements wherein shortlisted candidates may be hired as needed for the duration of the agreement to provide international and/or national consulting inputs as required. ADB will engage the consultants and carry out procurement following the ADB Procurement Policy (2017, as amended from time to time), the Procurement Regulations for ADB Borrowers (2017, as amended from time to time), and/or the associated staff instructions. All disbursements under the KSTA will be made in accordance with ADB's Technical Assistance Disbursement Handbook (2010, as amended from time to time). ADB staff will also serve as resource persons in consultative discussions with ASEAN+3 member countries, whose mission costs will be financed by the TA. |
| Responsible ADB Officer | Puongsophol, Kosintr |
| Responsible ADB Department | Economic Research and Development Impact Department |
| Responsible ADB Division | Office of the Chief Economist and Director General, ERDI (EROD) |
| Executing Agencies |
Asian Development Bank |
| Timetable | |
|---|---|
| Concept Clearance | 16 Sep 2022 |
| Fact Finding | - |
| MRM | - |
| Approval | 12 Mar 2023 |
| Last Review Mission | - |
| Last PDS Update | 12 Mar 2023 |
TA 10096-REG
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 12 Mar 2023 | - | 12 Mar 2023 | 28 Feb 2025 | - | - |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 0.00 | 750,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750,000.00 | 28 Jul 2023 | 91,495.30 |
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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| Title | Document Type | Document Date |
|---|---|---|
| Strengthening Ecosystem for Sustainable Finance in ASEAN+3: Technical Assistance Report | Technical Assistance Reports | Mar 2023 |
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.
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ADB Supports the Philippines' First Gender Bond Issued by ASA Philippines Foundation
ADB has supported the Philippines’ first gender bond by a nonprofit and nonstock microfinance nongovernmental organization, under the International Capital Market Association’s Social Bond Principles and the Association of Southeast Asian Nations Capital Markets Forum’s Social Bond Standards.
Tenders
| Tender Title | Type | Status | Posting Date | Deadline |
|---|---|---|---|---|
| Strengthening Ecosystem for Sustainable Finance in ASEAN+3 | Individual - Consulting | Closed | ||
| Strengthening Ecosystem for Sustainable Finance in ASEAN+3 | Individual - Consulting | Closed | ||
| Strengthening Ecosystem for Sustainable Finance in ASEAN+3 | Individual - Consulting | Closed | ||
| Strengthening Ecosystem for Sustainable Finance in ASEAN+3 | Individual - Consulting | Closed |
Contracts Awarded
Procurement Plan
None currently available.