Financial Inclusion Framework Strengthening (ADB-49386-001)

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
Aug 31, 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.
Borrower
Government of the Philippines
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Technical Cooperation
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)
$ 0.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 0.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 11, 2017

Disclosed by Bank Sep 5, 2016


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Project Description
The TA aims to identify, through consultations and a survey, sector-wide binding constraints to formulate effective assistance and support government efforts to expand financial inclusion by strengthening the policy and regulatory framework to promote financial services for the unserved and underserved population. The TA was first included in ADB’s country operations business plan, 2016–2018 for the Philippines1 . It is in line with the Country Partnership Strategy, 2011-2016, and the government’s Philippine Development Plan, 2011–2016, which identifies a “resilient and inclusive” financial system as the development goal of the financial sector. The TA scope includes (i) assessing the financial inclusion framework to identify sector-wide challenges to effective assistance, (ii) promoting savings and credit through policy and regulatory improvement, (iii) developing diverse microinsurance products and services by improving the regulatory framework, and (iv) promoting digital finance by enhancing regulatory and supervisory capacity. The TA is also a follow-on project to the capacity development TA for microinsurance (footnote 7) and will cover a wider range of development initiatives for greater financial inclusion, especially among low-income households, to supplement social insurance initiatives. The TA will have four outputs.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Executing Agencies Bangko Sentral ng Pilipinas Rm. 301, 3rd Floor, 5-Storey Bldg. A. Mabini cor. Vito Cruz Extension Malate, Manila, Philippines 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