Encouraging Investment through Capital Market Reforms Program (Subprogram 1) (ADB-48427-001)

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
Canceled
Bank Risk Rating
C
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
Nov 26, 2015
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, Department of Finance
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 300.00 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 14, 2017

Disclosed by Bank May 11, 2015


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Project Description
According to bank documents, the Encouraging Investment through Capital Market Reforms Program is aligned with the Philippine Development Plan, 2011–2016 and will contribute to meeting the government’s targeted investment rate, including public and private spending on infrastructure. The outcome will be a deeper nonbank finance sector, measured by an increase in corporate bonds relative to GDP, participation in the Association of Southeast Asian Nations (ASEAN) cross-border initiatives, and growth in contractual and long-term retirement savings.
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