Strengthening Treasury Operations and Capital Market Reform (ADB-48140-001)

Countries
  • Philippines
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
Approved
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
Sep 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 the Philippines, Bureau of the Treasury
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)
$ 0.50 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 Nov 10, 2017

Disclosed by Bank Sep 25, 2015


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Project Description
According to ADB Technical Assistance Report, the finance sector strategy of the Government of the Philippines is anchored in the Philippine Development Plan, 2011–2016. Reforms are to deepen the financial system through the balanced development of banking and capital markets. To achieve these objectives, the government adopted a revised capital market development blueprint for 2011–2016. This blueprint includes a wide range of initiatives including sequenced steps to increase liquidity in the government bond market including the creation of market makers and the launch of an interdealer repo market with a master agreement. To complement these activities, the blueprint identifies efforts to strengthen the clearing and settlement system, including a more definitive framework for close-out netting. The TA is consistent with ADB’s country partnership strategy, 2011–2016 for the Philippines and efforts to strengthen governance and reduce corruption through legal and regulatory reforms in budget execution and reporting. The TA impact will be more cost-effective utilization of the government’s fiscal resources. The impact will be brought about through a culmination of reforms leading to a reduction in the relative cost of issuing and administering government debt and in turn, increasing the fiscal resources available to alternative and higher priority uses. The outcome will be enhanced efficiency of primary and secondary government debt markets.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Schuster, Stephen R. Southeast 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