Capital Market Development Program (ADB-49365-001)

Countries
  • Sri Lanka
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
U
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
Apr 20, 2016
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.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
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 Aug 8, 2017

Disclosed by Bank Sep 20, 2016


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
DESCRIPTION A PPTA is required to effectively formulate the program which will support the government's commitment to meaningful capital market reform. The PPTA will build upon the ten point agenda (please refer to Appendix 5) that was established by Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE). PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY The PPTA is necessary to effectively formulate the Capital Market Development Program (CMDP) which will support the Government's commitment to meaningful capital market reform. The objective of the PPTA is to identify policy measures to support the development of a robust financial markets system in Sri Lanka that is well balanced, sustainable and resilient and that is able to effectively intermediate savings to finance investment. CONSULTING SERVICES The PPTA was implemented over 6 months, from April 2016 to September 2016. The consulting contract with ISC was awarded in June 2016. A team of 9 international consultants and 8 domestic consultants provided a total of 25 person-months of consulting services. Consulting firm was recruited, using the quality- and cost-based selection method with a standard quality-cost ratio of 90:10 because of the highly specialized expertise needed. ADB engaged the consulting firm in accordance with the Guidelines on the Use of Consultants (2015, as amended from time to time). The selection of the consulting firm was based on the submission of a simplified technical proposal and effected by the quality- and cost-based selection process.
Investment Description
  • Asian Development Bank (ADB)
TA 9105-SRI: Capital Market Development Program Technical Assistance Special Fund US$ 500,000.00
Contact Information
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 CONTACTS Responsible ADB Officer Lambert, Donald J. Responsible ADB Department South Asia Department Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD Executing Agencies Ministry of Finance and Planning P.O. Box 277 The Secretariat Building, Colombo 1 Sri Lanka Ministry of National Policies and Economics Affairs "Miloda" (Old Times Building), 1st Floor, Bristol Street, Colombo 01