Strengthening Institutions for a Better Investment Climate (ADB-47268-001)

Countries
  • Myanmar
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 14, 2014
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Ministry of Construction
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.93 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 5, 2022

Disclosed by Bank May 29, 2014

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Government has publicly announced its intentions to draft a new company law and establish an electronic registry in line with its objectives for creating an investment environment conducive to private sector development and inclusive economic growth. The electronic registry is aligned with the Government's intention to promote e-governance. The Interim CPS supports the Government's objectives for improving the investment climate. Reforms to the company registry and registration system are also a policy measure specified in the post-program partnership framework (P3F) of the PBL. The P3F sketches out the Government's reform agenda from 2012 to 2014. Thus, the proposed TA is designed to support the implementation of the P3F. Under a small-scale technical assistance (MYA TA-8114), ADB working with DICA staff carried out

a diagnostics of the 1914 company law and the company registry. Also funded under the TA, in March 2013 a senior official from DICA visited the New Zealand Company Registry Office to assess operations of a first class company registry. The comprehensive and sequenced reform to the company law and registration system rather than a short term, piecemeal approach to reform with its associated higher risks of policy failure. At the same, participants to the World Economic Forum held in Nay Pyi Taw in June 2013 conveyed to the Government of Myanmar the urgency of reforming the company law for private sector development and for attracting quality foreign investors.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

This project is funded by a US$ 1.5 million grant from the Japan Fund for Poverty Reduction and a US$ 431,000 supplementary grant from the Technical Assistance Special Fund.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Department of Highways Office Building No. 11 Naypyitaw, Myanmar

 

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

How it works

How it works