Regional : Promoting Cross-Border Financial Transactions in ASEAN+3 Region: Support to Cross-Border Settlement Infrastructure Forum under the Asian Bond Markets Initiative Medium-Term Road Map, 2023-2026

Sovereign Project | 57180-001

The TA will conduct more in-depth study and field research on various cross-border collateral arrangement (CBCA) models tailored and germane to ASEAN+3. Thus, the TA aims to find an appropriate CBCA model and structure to vitalize cross-border collateral financing in the region as an ordinary financing tool and emergency remedy. The TA will also support the establishment of common digitalization-related legal and regulatory grounds in the ASEAN+3 region from the financial market infrastructure perspective to help ASEAN+3 member countries to design systems and improve operation structures related to new technology including Blockchain Technology, while aiming to set up a harmonized standard tailored to the ASEAN+3 region's circumstances

Project Details

  • Project Officer
    Yamadera, Satoru
    Economic Research and Development Impact Department
    Request for information
  • Country/Economy
    Regional
  • Sector
    • Finance
Project Name
Promoting Cross-Border Financial Transactions in ASEAN+3 Region: Support to Cross-Border Settlement Infrastructure Forum under the Asian Bond Markets Initiative Medium-Term Road Map, 2023-2026
Project Number
57180-001
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 10255-REG: Promoting Cross-Border Financial Transactions in ASEAN+3 Region: Support to Cross-Border Settlement Infrastructure Forum under the Asian Bond Markets Initiative Medium-Term Road Map, 2023-2026
Source Amount
Republic of Korea e-Asia and Knowledge Partnership Fund US$ 500,000.00
Operational Priorities
  • OP6: Strengthening governance and institutional capacity
  • OP7: Fostering regional cooperation and integration
Sector / Subsector
  • Finance / Money and capital markets

Gender
No gender elements
Description
The TA will conduct more in-depth study and field research on various cross-border collateral arrangement (CBCA) models tailored and germane to ASEAN+3. Thus, the TA aims to find an appropriate CBCA model and structure to vitalize cross-border collateral financing in the region as an ordinary financing tool and emergency remedy. The TA will also support the establishment of common digitalization-related legal and regulatory grounds in the ASEAN+3 region from the financial market infrastructure perspective to help ASEAN+3 member countries to design systems and improve operation structures related to new technology including Blockchain Technology, while aiming to set up a harmonized standard tailored to the ASEAN+3 region's circumstances
Project Rationale and Linkage to Country/Regional Strategy
Impact

Greater financial and macroeconomic stability in the ASEAN+3 region under the Asian Bond Markets Initiative Medium-Term Road Map, 2023-2026

Project Outcome

Description of Outcome

Increased intraregional liquidity in the bond markets

Progress Toward Outcome

Implementation Progress

Description of Project Outputs

A CSIF's in-depth research on cross-border collateral management model produced, and related knowledge disseminated

A CSIF's in-depth research on new technologies to promote cross-border payment and settlement transactions produced and its related knowledge disseminated

Knowledge sharing on advancing ASEAN+3 financial market infrastructures and interconnecting the regional markets, and CSIF's reports to ABMF TF4 produced

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
1. Research and Study on the materials about stakeholders' opinionTo make a process more efficient and time-saving, ADB prechecks and confirms stakeholders' stances and opinions on the TA ADB plans through research and study about the TA. 2. Preliminary meetings with stakeholdersIf necessary, to clarify the opinions of the stakeholders or get their ideas that have not been announced or shared previously, ADB holds meetings online or by on-site visits.3. Request for ideas or consultationIf additional ideas or thoughts are required other than the materials or meetings, ADB requests expert opinions and consultation with the stakeholders.
During Project Implementation
1. Check-up meetingsDuring the process of the TA, ADB shares the progress of the TA with stakeholders to check whether it is on the right track as planned and whether there are items to be complemented.2. Forum and SeminarPresentation of the plan, progress, or the interim result of the TA in forums or seminars can be used as a way of sharing information and communicating with stakeholders during the process of implementation.3. Publication of the resultTo officially announce or publicize the result of the TA, ADB publishes reports and books to be shared by stakeholders and related parties.

Business Opportunities

Consulting Services
Individual consultants will be recruited through 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 consultants and carry out procurement following the ADB Procurement Policy (2017, as amended from time to time) and its associated project administration instructions and/or staff instructions.

Contact

Responsible ADB Officer
Yamadera, Satoru
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
25 Aug 2023
Fact Finding
-
MRM
-
Approval
19 Dec 2023
Last Review Mission
-
Last PDS Update
20 Dec 2023

Funding

TA 10255-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
19 Dec 2023 - 19 Dec 2023 30 Jun 2026 - -
Financing Plan/TA Utilization
ADB Cofinancing Counterpart Total
Gov Beneficiaries Project Sponsor Others
0.00 500,000.00 0.00 0.00 0.00 0.00 500,000.00
Cumulative Disbursements
Date Amount
15 Jan 2024 11,726.53

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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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

Title Document Type Document Date
Comparative Analysis of Collateral Eligibility Criteria Papers and Briefs Feb 2024

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.

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