Enhancing Insurance Market Efficiency and Outreach (ADB-48037-001)

Countries
  • Kazakhstan
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
Canceled
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 17, 2014
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Kazakhstan, The National Bank of Kazakhstan
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jan 7, 2018

Disclosed by Bank Sep 20, 2016


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Project Description
According to ADB website, the TA will support the Kazakhstan government to enhance the efficiency of insurance markets and expand their outreach. The TA will help improve the quality and efficiency of supervision of the insurance system, including cross-border supervision, and deepen insurance penetration through better product design and pricing and use of alternative distribution channels. The enhanced capacity of the NBRK to implement and observe international insurance principles and standards and promote customer protection will also contribute to greater confidence and trust of market participants.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Martinez, Inmaculada Central and West Asia Department No contact information provided at the time of disclosure. 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