Regional : Strengthening Ecosystem for Sustainable Finance in ASEAN+3

Sovereign Project | 56122-001

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
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 10096-REG: Strengthening Ecosystem for Sustainable Finance Development in ASEAN+3
People's Republic of China Poverty Reduction and Regional Cooperation Fund US$ 750,000.00
Operational Priorities OP6: Strengthening governance and institutional capacity
OP7: Fostering regional cooperation and integration
Sector / Subsector

Finance / Infrastructure finance and investment funds - Money and capital markets

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

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 237,734.90

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
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.


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
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
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

No contracts awarded for this project were found

Procurement Plan

None currently available.